SANTANU KUMAR ACHARYA TRUST FOUNDATION (SKAF)

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ACCOUNT & AUDIT

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ACCOUNT & AUDIT

(a) The Treasurer/ trustee shall maintain true and correct account of all trust monies and all income and investments and all the outgoing expanses.
(b) The year of account shall be the financial year commencing form 1st April and ending 31 March.
(c) The treasurer/ trustee shall each year issue a report setting out the account showing the income and expenditure of the trust for the preceding year of accounts.
(d) The accounts of the trust shall be audited every year by a Chartered Accountant who may be appointed for the purpose by the board of trustees and the audited statement of accounts together with auditor's report shall be laid before the Board of Trustees for approval.

BANK ACCOUNT

A bank account will be opened at any Nationalised Bank. Either the Managing Trustee or Treasurer shall operate the bank account.

DISSOLUTION

On dissolution of the trust, the net assets of the trust shall be transferred to an Association of Individuals or trust or society having similar objects of this trust

PROCEEDING OF THE TRUST

Any defect in the constitution of the trust shall not invalidate its proceeding.

RESIDUARY

For matter not provided for in these presents, the provisions of the Indian Trust Act and the Income Tax Act, 1961 and rules made there under will be applied accordingly.

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