In this Chapter, unless the context otherwise requires—
(a) "“property”", in relation to an affiliated or associated college, includes all property, movable and immovable belonging to or endowed wholly or partly for the benefit of the college, including lands, building (including hostels), works, library, laboratory, instruments, equipment, furniture, stationary, stores, automobiles and other vehicles, if any, and other things pertaining to the college, cash on hand, cash at bank, investments and book debts and all other rights and interests arising out of such property as may be in the ownership, possession, power or control of the college and all books of account, registers, and all other documents of whatever nature relating thereto, and shall also be deemed to include all subsisting borrowings, liabilities and obligations of whatever kind of the college ;
(b) "“salary”" means the aggregate of the emoluments including dearness or any other allowance for the time being payable to a teacher or other employee after making permissible deductions.