Section 139(1) in The Punjab Panchayati Raj Act, 1994
(1)The Panchayat Samiti Fund shall be vested in the Panchayat Samiti and the balance standing at the credit of the Panchayat Samiti Fund shall be kept in Government treasury or sub-treasury or in the bank to which the State Government Treasury business has been made over unless the State Government in any case otherwise permits.
