Section 61 in The M.P. Janpad Panchayats (Accounts) Rules, 1999
61. Income and Expenditure Account.
- At the end of each year an account of Income and Expenditure of the Janpad Panchayat for the year shall be prepared in Form No. JP-21. The income and expenditure account shall contain also the revenue receipts and expenditures but, the capital receipts and payments such as Grants, Loans, advances, deposits, etc., shall not be included. However, the expenditure incurred on construction/acquisition of assets shall be treated as revenue expenditure and included in the aforesaid account.
