Para 3.11.8 — MSO (Audit)
Original Rule Text
3.11.8 An Annual return of transactions of the Government relating to revenue and civil and criminal court deposits is to be rendered to the Accountant General (A&E). The amounts in respect of deposits that have lapsed should be deducted from the plus and minus memoranda for the month of March. On receipt of the Statement of Lapses in the A&E Office, the total will be checked and a transfer entry proposed for crediting the amount to Government.
What This Means
Every year, an annual return of revenue and court deposit transactions must be sent to the AG (A&E). The amounts for deposits that have lapsed (remained unclaimed beyond the prescribed period) are deducted from the March plus and minus memoranda. Once the A&E Office receives the Statement of Lapses, the total is verified and a transfer entry is proposed to credit the lapsed amount to the government.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Key Points
- 1Annual return of deposit transactions is sent to AG (A&E)
- 2Lapsed deposit amounts are deducted from March plus and minus memoranda
- 3A&E Office checks totals from the Statement of Lapses
- 4A transfer entry credits the lapsed amount to government revenue
Practical Example
In March, the district treasury prepares its Statement of Lapses listing all revenue and court deposits unclaimed for over three years, totalling Rs. 12 lakh. This is sent to the AG (A&E) office, which verifies the total and proposes a transfer entry to credit Rs. 12 lakh to government revenue under the lapsed deposits head.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Frequently Asked Questions
When are lapsed deposits adjusted in the accounts?▼
Who prepares the annual return of lapsed deposits?▼
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.