Section Text
1) Every mutawalli of a 1[waqf] shall, in every year prepare, in such form and at such time as may be prescribed, a budget in respect of the financial year next ensuing showing the estimated receipts and expenditure during that financial year.
(2) Every such budget shall be submitted by the mutawalli at least 3[thirty days] before the beginning of the financial year to the Board and shall make adequate provision for the following:— (i) for carrying out the objects of the 1[waqf];
(ii) for the maintenance and preservation of the 1[waqf] property;
(iii) for the discharge of all liabilities and subsisting commitments binding on the 1[waqf] under this Act or any other law for the time being in force. 4 [(3) In case the Board considers any item in the budget being contrary to the objects of the waqf and the provisions of this Act, it may give such direction for addition or deletion of such item as it may deem fit.]