Punjab Charities Act 2018 (Act V of 2018).

The Punjab Charities Act 2018 is a legislative framework that governs charitable organizations in the Punjab region. It outlines the responsibilities and obligations of charity trustees, including the maintenance of accurate accounting records that reflect the financial position of the charity. The Act mandates the preparation of annual statements of accounts and requires charities to deposit amounts exceeding fifty thousand rupees in dedicated bank accounts. The Act also addresses the audit and inspection of charity accounts, allowing the Commissioner or sanctioning authority to direct audits for specified reasons. It prohibits the misapplication of funds collected for charitable purposes without prior permission from the Commission. The Act imposes penalties for contraventions, including imprisonment and fines for fraudulent activities related to charitable funds. The Commission, consisting of appointed Commissioners and a Chairperson, oversees the implementation of the Act. The Chief Executive Officer is responsible for the day-to-day administration of the Commission. The Act provides for the compounding of offences, confiscation of wrongfully collected funds, and the right to appeal decisions of the Commission. The text consists of 43 Articles.