All one oil reservoir for differential, transmission, wet clutch & PTO. Most usually leaks past seal of PTO output shaft or actuator shaft or seal of hand clutch shaft. But could leak past rear axle seals into & out brake cavity or forward past seal into hydraulic fluid reservoir, although this is less likely as hydraulic oil shoud be thinner and with pulses of pressure when arms drop, more likely to leak into wet clutch.

There also are drain plugs beneath the diff, trannny & PTO.

Where are the drips?
 
Here's an old post:

http://www.ytmag.com/cgi-bin/viewit.cgi?bd=ac&th=34442

If you have the original Chicago Rawhide seal, the new neoprene seal will look much thinner and may not last as many decades. Service manual calls for removing bearing cage in order to remove old seal and press in new one. Not to say you couldn't pry old one out with seal remover and slip new one over stub shaft of PTO. Either way remove any burrs from stub shaft. You will have to drain a lot of oil to get PTO empty. Should be 80W90; if it's dirty, replace it. Manual calls for use of sealer on outside of seal, which would mean good cleanup of seal seat. Bearing cage is separated from housing by layers of metal shims; these control end play of stub shaft and you want a free rolling fit, so don't damage them when you remove the bearing cage.

Not very tricky.
 

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