PUNJAB FINANCE ACT 2009

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THE PUNJAB FINANCE ACT 2009 
(III of 2009) 
CONTENTS 
1. Short title, extent and commencement 
2. Amendment in Act II of 1899 
3. Amendment in Act I of 1993 
TEXT 
1
THE PUNJAB FINANCE ACT 2009 
(III of 2009) 
[29th June, 2009] 
An 
Act 
to levy tax and alter the rates of tax and duties in the Punjab. 
Preamble.– Whereas it is expedient to levy tax and alter the rates of tax and duties 
in the Punjab and other connected matters. 
 It is enacted as follows:– 
1. Short title, extent and commencement. – (1)This Act may be cited as the 
Punjab Finance Act 2009. 
(2) It shall extend to the whole of the Punjab. 
(3) It shall come into force on the first day of July 2009. 
2. Amendment in Act II of 1899. – In the Stamp Act 1899 (II of 1899), in the 
Schedule I, in Article 63-A, the explanation shall be substituted by the following:- 
“Explanation.– Transfer of the right or interest under this Article does not 
include original allotment from a development autho rity, housing authority, 
statutory body, cooperative housing society or company; and transfer through 
inheritance.” 
3. Amendment in Act I of 1993. – In the Punjab Undesirable Cooperative 
Societies (Dissolution) Act 1993 (I of 1993), in section 7, after clause (ta), the following 
clause (tb) shall be inserted: 
“(tb) create a fund for social sector development in the Punjab with surplus 
assets if any;” 
                                                           
1This Act was passed by the Punjab Assembly on 26 June 2009; assented to by the Governor of the Punjab on 27 June 2009; 
and, was published in the Punjab Gazette (Extraordinary), dated 29 June 2009, pages 3965-3966.