The total fee received from the clients for consultancy work shall include the consultancy charges and service tax, as applicable and payable as per the Government of India Rules. All cheques shall be drawn only in the name of “Director, CTDT”, Anna University and sent to CTDT along with the details in a form, indicating the number of installment and details of the project/ Consultancy assignment.

It will be received by the centre and deposited in the joint account of Registrar and Director, Centre for Technology Development and Transfer (CTDT). The account will be operated by the Director, CTDT and one Authorized Signatory.

In the case of Projects, Consultancy, Testing and Training, sanctioned to autonomous centres, cheques will be drawn in favour of The Director of the respective Centre and transferred to the autonomous Centre within 24 hours of the realisation of the cheque. In the case of the Projects, Consultancy, Testing and Training sanctioned to departments, the funds will be handled by the CTDT.

From the earnings received by the consultants, 10% IT will be deducted, when the total earnings by the consultant in that financial year exceeds the permissible amount fixed by the Government. At the end of every financial year, every consultant will be issued a Form (Form 16A) related to the actual amount the consultant has received by way of Consultancy and Testing charges during the year along with the IT deduction with a copy marked to Assistant Registrar (Salaries). It is mandatory for the Consultant to receive this Form (Form 16A) and submit the same to the Income Tax Department while filing his returns.

The accounts of the Department Projects, Consultancy and Testing will be maintained in the CTDT office, while those of the autonomous Centres will be maintained by the respective Directors of the autonomous Centres. In the case of projects maintained by CTDT every month statement of accounts will be sent to the Principal Investigator, for regulating the expenditure and for proper planning of future expenses. Any discrepancy found must be reported immediately to the CTDT.

The utilization of the funds for the project shall be based on the approval of the funding agency. Funds cannot be diverted for any use other than the designated purpose without the approval of the funding agency., Any re-appropriation is possible only with the approval of the funding agency.

In the case of sponsored projects, request for unaudited / audited Utilization Certificate shall be made by the Principal Investigator to the Director, Centre for Technology Development and Transfer. The Principal Investigator must ensure timely release of grants by the funding agencies.