Section 16 in Andhra Pradesh Charitable and Hindu Religious Institutions and Endowments Alienation of Immovable Property Rules, 1987
16.
Immediately after the transaction of the sale is effected shall be the duty of,the Executive Officer or the Chairman of the Trust Board to invest the amount covered by sale proceeds in the interest yielding deposits in such forms or bank or Treasury keeping in view the provisions of Income Tax Act and as per the rules in force and the said investment shall be sent to the Regional Joint Commissioner for safe custody after making necessary entries in the register of investments.
