Section 11(11) in The National Commission for Minority Educational Institutions (Annual Statement of Accounts) Rules, 2006
11.1In respect of ongoing Sponsored Projects, the amounts received from sponsors are credited to the head "Current Liabilities and Provisions - Current Liabilities - Other Liabilities Receipts against ongoing sponsored projects." As and when expenditure is incurred advances are paid against such projects, or the concerned project account is debited with allocated overhead charges, the liability account is debited.
