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95. Modes of investment.
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95. Modes of investment.—(1) The modes of investing or depositing the money referred to in clause (f) of section 94 shall be the following, namely :—
(i) deposit in any account with the Post Office Savings Bank ;
(ii) deposit in any account with a scheduled bank ;
(iii) investment in any security issued by the Central Government or a State Government ;
(iv) investment in debentures issued by any company or corporation, guaranteed by the Central Government or by a State Government ;
(v) investment or deposit in any public sector company ;
(vi) investment in immovable property ; or
(vii) any other mode of investment or deposit as may be prescribed.
(2) The funds or the assets of the non-profit organisation (other than any assets forming part of its corpus as on the 1st day of June, 1973) shall be invested or held, at any time during the financial year, in any of the modes referred to in sub-section (1).
Clause 95 stipulates that the modes of investing or depositing the money referred to in item (f) of clause 94. It also provides that the funds or the assets of the non-profit organisation (other than any assets forming part of its corpus as on the 1st day of June, 1973) shall be invested or held, at any time during the financial year, in any of the said modes.
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