76. The accounts of the Wakf Board shall be kept in the following manner.
- (i) The register of Wakf-Fund shall show a complete account of the Fund of the Board, Reserve and Current.(ii)The daily cash book shall contain daily receipts and disbursement as per proper vouchers and receipts according to the forms.(iii)The Account Books shall show daily deposits in the Bank.(iv)The Loan Register shall show advances and their recoveries.(v)The Mad-e-Amanat Register shall show the amount received from each mutwalli or Committee and the names of the Wakif.(v-A) The Wakf Property Register shall show amount of income and expenditure of properties directly administered by the Board.(vi)The amount of the Wakf shall be entered in the account register in accordance with the accepted rules of Book keeping and accountancy prescribed by the Government.(vii)All accounts of the Board shall be audited every year by the Government auditor and as approved by the Local Government and the audit report shall be submitted to the Board positively within one month from the date of receipt.(vii-A) The matter of calculating the income of wakfs for purpose of levying and contributions under the Wakf Act, 1954, as modified up-to-date shall be as follows :(viii)Every mutwalli or Managing Committee or any other person appointed by the Board under Sections 42 and 43 of the Act 29 of 1954 shall pay annually to the Board the Wakf Fee at 5 per cent of the net income of its properties.(ix)The contribution shall be paid in two equal instalments in the months of May and November.(x)In case of default in the payment of the contribution the Secretary or another competent officer with the written permission of the Chairman of the Board shall issue registered notice (acknowledgement due) positively in the first week of June and December against the defaulter.(xi)The explanation if any received from the defaulter to the notice shall be put up to the next meeting of the Board.(xii)No such contribution shall be payable to a mutwalli, person or Managing Committee of a wakf of which net income does not exceed Rs. 100/- per year.(xiii)The Board is empowered by virtue of Sections 41-45 to take suitable action against the defaulters.(xiv)The Board in case of any particular wakf reduce or remit Wakf Fee for such time as it thinks fit.
