Section 184(5) in The Central Government Account (Receipts and Payments) Rules, 1983
(5)The sale proceeds of unclaimed property are not to be placed in deposit at all; under Police Act 1861 (5 of 1861), the property itself is to be kept for six months, but money realised by sale is at once at the disposal of the Government, and should be taken to credit of the appropriate receipt head. Exception must, however, be made in the case of property left by persons dying intestate and without heirs which Civil Courts will secure and hold for certain periods in accordance with the local law.Note 1. - If unclaimed property be perishable and be sold because it cannot be kept or it be sold for the benefit of the owner or because its value is less than ten rupees, its proceeds should be held for six months, in deposit, but the circumstances should be clearly stated in the challan.Note 2. - Money belonging to prisoners in jail should not be held for long terms by the Jain Department, but should be paid into Government account at convenient intervals.Note 3. - The Police Department should have no deposits except security and earnest money deposits which should be paid into Government Account under the major head '843 Civil Deposits'. Unclaimed property found by or delivered to a police officer, should. be made over to the Magistrate. Proceeds of sale of old stores or other Government property should be credited to Government Account.
