Section 9(1) in The Rules for Payment Of Grant-in-Aid to Non-Government Educational, Cultural & Physical Education Institutions, 1963
(1)A statement of accounts for the financial year ending 31st March of the preceding year duly audited by the Chartered Accountants.Note. - Institutions with an annual expenditure of Rs. 2,000/- (Rupees two thousand) per annum or below are exempted from getting their accounts audited by Chartered Accountants.
