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24. Assessment.–(1) The Financial year, for
the purpose of Section 72 of the Act and Rules 85
and 86 of the Rules, shall be the year ending on
31st day of March.
(2) The period within which the Mutawalli of a Wakf
shall submit a return of the net annual income of
the Wakf to the Chief Executive Officer as per Rules
86 shall be 31st May of the succeeding year.
(3) Every annual return referred to in Rule 86 (1)of
the Rules shall be submitted in Form No. 2 of the
schedule.
(4) Mutawalli of a Wakf may remit annual
contribution or any portion thereof along with the
annual return referred to in Rules 86 (1) of the
Rules.
(5) Mutawalli of a every Wakf shall pay annual
contribution at 7% on the net annual income, if the
annual income is more than Rs.5,000.
(6) All payments shall be made to the Chief
Executive Officer by way of D.D. or money order or
by cash.
(7) All D.D. shall be drawn in the name of ‘Kerala
Wakf Board’ and shall be ‘Account payee only’. |
