The Damodar Valley Corporation Act

Expenditure till the Corporation is established

Vesting of property in the Corporation

Fund of the Corporation

Liabilities of participating Governments to provide capital to the Corporation

Payment by participating Government on specified date

Expenditure on objects other than irrigation, power and flood control

Allocation of expenditure chargeable to project on main objects

Capital allocated to irrigatio

Capital allocated to power

Capital allocated to flood control

Disposal of profits and deficits

Payment of interes

Interest charge and other expenses to be added to and receipts taken for reduction of capital cost

Provision for depreciation and reserve and other funds

Corporation's share in betterment levy by State Governments

. Borrowing of mone

Liability to pay Central taxes

Budget

Annual report

Other annual financial statements

Accounts and audit


FINANCE, ACCOUNTS AND AUDIT


(1) The Corporation shall make
provision for depreciation and for reserve and other funds at such rates and on such terms as may be
specified by the Auditor-General of India in consultation with the Central Government.

(2) The net profit for the purposes of section 37 shall be determined after such provision has been
made.

LAWGIST

# 40 Provision for depreciation and reserve and other funds