Section 29(1) in The Indian Institutes of Information Technology Act, 2014
(1)Every Institute shall maintain a fund to which shall be credited -(a)all monies provided by the Central Government or State Government, as the case may be;(b)all fees and other charges received by the Institute from students;(c)all monies received by the Institute by way of grants, gifts, donations, benefactions, bequests or transfers;(d)all monies received by the Institute from utilisation of intellectual property arising from research conducted or provision of advisory or consultancy services by it; and(e)all monies received by the Institute in any other manner or from any other source.
