PUNJAB FINANCE ACT, 1975

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THE PUNJAB FINANCE ACT, 1975 
(XL of 1975) 
CONTENTS 
1. Short title, extent and commencement 
2. Definitions 
3. Amendment of Stamp Act, 1899, (Act II of 1899) 
4. Repeal of Section 10 of the W.P. Finance Act , 1965 (W.P. Act No. I of 
1965) 
5. Amendment of W.P. Urban Immovable Property Tax  Act, 1958 (W.P. Act 
V of 1958) 
6. Application of existing laws 
7. Bar of suits in civil courts 
 
TEXT 
1
THE PUNJAB FINANCE ACT, 1975 
(XL of 1975) 
[28th June, 1975] 
An 
Act 
to continue and levy certain taxes and fees in the Province of the Punjab. 
Preamble.– WHEREAS it is expedient to continue and levy certain taxes and fees in 
the Province of the Punjab; 
It is hereby enacted as follow:– 
1. Short title, extent and commencement .– (1) This Act may be called the 
Punjab Finance Act, 1975. 
(2) It shall extend to the whole of the Province of the Punjab. 
(3) It shall come into force on and from the first day of July, 1975. 
2. Definitions.– In this Act, unless there is anything repugnant in the subject or 
context the following expressions shall have the meanings hereby respectively 
assigned to them, that is to say– 
(a) “Government” means the Government of the Punjab. 
(b) “rural area” means an area not within the boundaries of a city, 
municipality or a cantonment board. 
(c) “agricultural land” means any land in the rural area other than a village 
abadi or a town. 
3. Amendment of Stamp Act, 1899, (Act II of 1899) .– In Schedule I to the 
Stamp Act, 1899 (Act II of 1899) the following amendments shall be made:– 
(i) For the existing Article 23, the following shall be substituted:– 
“23. CONVEYANCE as defined b y section 2(10) not being a 
TRANSFER charged or exempted under No. 62– 
(a) In the case of 
agricultural land. 
Rupees three for every rupees one 
hundred or part thereof of the value of 
land. 
  (b) In any other case. Five rupees for every rupees one hundred 
or part thereof of the value of the 
property.” 
(ii) For the existing Article 31, the following shall be substituted:– 
“31. EXCHANGE OF PROPERTY– 
                                                           
1This Act was passed by the Punjab Assembly on 26th June, 1975; assented to by the Governor of the Punjab on 28th June, 
1975; and, published in the Punjab Gazette (Extraordinary), dated 28th June 1975, pages 945-A to 945-D. 
Instrument of– 
(a) When executed in 
respect of 
agricultural land. 
One rupee for every rupees one 
hundred or pa rt thereof of the value of 
the property. 
(b) In any other case. Five rupees for every rupees one 
hundred or part thereof of the value of 
the property.” 
(iii) For the existing Article 33, the following shall be substituted:– 
“33. GIFT– Instrument of, not being a SETTLEMENT (No. 58) OR 
WILL OR TRANSFER (No. 62). 
(a) When executed in 
favour of legal 
heirs in respect of 
agricultural land. 
One rupee for every rupees one 
hundred or part thereof of the value of 
the property as set forth in such 
instrument. 
(b) In any other case. Five rupees for every rupees one 
hundred or part thereof of the value of 
the property.” 
(iv) In Article 45, in the proviso after the existing clause (c), the following 
new clause shall be added:– 
“(d) When instrument of partition is exe cuted in respect of 
agricultural land, the stamp duty shall be charged as one rupee 
for every rupees one hundred or part thereof of the value of 
such land.” 
(v) In Article 58 Part A, the existing clauses (i) and (ii) shall be renumbered 
as (iii) and respectively and the following clause (i) shall be inserted 
before clause (ii) so renumbered:– 
“(i) Where the 
settlement is made 
in favour of legal 
heirs in respect of 
agricultural land. 
One rupee for every rupees one hundred 
or part thereof , of the value of the  
property.” 
4. Repeal of Section 10 of the W.P. Finance Act, 1965 (W.P. Act No. I of 
1965).– In the West Pakistan Finance Act, 1965 (West Pakistan Act No. I of 1965), 
Section 10 is hereby repealed. 
5. Amendment of W.P. Urban Immovable Property Tax Act, 19 58 (W.P. Act 
V of 1958) .– In the West Pakistan Urban Immovable Property Tax Act, 1958 (West 
Pakistan Act, V of 1958) for the existing Section 3 -A the following shall be 
substituted, namely:– 
“3-A. Out of the tax collected under the Act from within the limi ts of  a 
Municipal Committee, a Town C ommittee or a Cantonment Board, the 
Government shall, after retaining 5% thereof as collection charges, pay 
85% of the balance to such Municipal Committee, Town committee or 
Cantonment Board, as the case may be.” 
6. Application of existing laws .– Where any tax imposed or any fee levied by 
this Act is by way of an addition to any tax imposed or fee levied by or under any 
enactment and rules in force in the Punjab, the procedure provided in such 
enactment and rules for the  assessment, collection and recovery of such tax or fee 
shall, as far as applicable, apply to the assessment, collection and recovery of 
additional tax or fee, as the case may be. 
7. Bar of suits in civil courts .– No suit shall lie in any civil court to se t aside or 
modify any assessment, levy or collection of a tax or fee made under this Act and the 
rules made thereunder.