(a)The mutwallis and the Committees appointed for the management of the wakfs shall prepare the budget in the form approved by the Board and shall submit them before the 15th of February each year.(b)No mutwalli or Committee appointed to manage the wakf shall be allowed to keep more than Rs. 300/- in his/its custody and the amounts exceeding Rs. 300/- shall be deposited with the Board, which shall be kept in Mad-e-Amanat showing the name of each wakf.(c)The financial year of the Board shall commence from 1st April each year.(d)All money of the Board shall be deposited in such schedule Bank/Banks as may be approved by the Board for this purpose.
