PUNJAB FINANCE ACT, 1997

Exact source transcription retained, including print layout and extraction artifacts. Text SHA-256: 9973969c9c68af2361a8288bfd06a7d37b87e79360b6c4c83152122416952172.

THE PUNJAB FINANCE ACT, 1997 
(IX of 1997) 
CONTENTS 
1. Short title, extent and commencement 
2. Amendment of Act II of 1899 
3. Amendment of Act V of 1958 
4. Amendment of Act X of 1958 
5. Amendment of Act XIV of 1973 
6. Amendment of Act XV of 1977 
7. Repealed 
8. Repealed  
9. Repealed  
 
TEXT 
1
THE PUNJAB FINANCE ACT 1997 
(IX of 1997) 
[1st July, 1997] 
An 
Act 
to levy and alter the rates of certain taxes, duties and fees in the Punjab. 
Preamble.– Whereas it is expedient to levy and alter the rates of certain taxes, 
duties and fees in the Punjab; 
 It is hereby enacted as follows:– 
1. Short title, extent and commencement .– (1) This Act may be called the 
Punjab Finance Act 1997. 
 (2) It shall extend to the whole of the Punjab. 
 (3) It shall come into force on the first day of July 1997. 
2. Amendment of Act II of 1899.– In the Stamp Act 1899 (II of 1899), in Schedule 
I, the following amendments shall be made, namely:– 
(1) In Article 5, after sub -article (cc), the following new sub -article (ccc) 
shall be added:– 
“(ccc) for collection or recovery of octroi 
or goods exit tax or tax on transfer 
of immovable property by a 
contractor with a Local Council. 
Fifty paisa for every one 
hundred rupees or part thereof 
of the amount of the contract”. 
 (2) After Article 11, the following new Article 11-A, shall be added:– 
 “11-A. AIR TICKETS issued by any Airline– 
(i) for domestic flights; Twenty five rupees per 
ticket 
(ii) for international flights. Two hundred and fifty 
rupees per ticket”. 
(3) After Article 12, the following new Articles 12 -A and 12 -B shall b e 
added:- 
“12-
A. 
BILLS ISSUED BY LUXURY HOTELS AND 
RESTAURANTS 
Ten rupees for 
every one 
hundred rupe es 
                                                           
1This Act was passed by the Punjab Assembly on 25th June, 1997; assented to by the Governor of the Punjab on 27th June, 
1997; and, was published in the Punjab Gazette (Extraordinary), dated 30th June, 1997, pages 1011 to 1014. 
that is to say bills issued for payments made 
by customers to hotels and restaurants which 
are notified by the Government as luxury 
hotels and restaurants. 
or part thereof of 
the amount of 
the bill. 
12-
B. 
BILL OF ENTRY.  
EXEMPTION 
Milk, medicines, pharmaceutical raw 
materials, medical equipment, books, 
pesticides and fertilizers. 
Fifty paisa for 
every one 
hundred rupees 
or part thereof of 
the amount of 
the bill.” 
 (4) For Article 31, the following shall be substituted:– 
 “31. EXCHANGE OF PROPERTY– 
Instrument of– 
(a) when executed in 
respect of 
agricultural land; 
Two rupees for every one 
hundred rupees or part 
thereof of the value of the 
property of the greatest value 
(b) when executed in 
respect of immovable 
property in an urban 
area as defined in 
No.23; 
Eight rupees for everyone 
hundred rupees or part 
thereof of the value of the 
property of the greatest value 
(c) in any other case. Five rupees for every  one 
hundred rupees or part thereof 
of the value of the property of 
the greatest value.” 
 (5) For Article 37, the following shall be substituted:– 
“37. LETTER OF CREDIT. 
EXEMPTION 
Milk, medicines, pharmaceutical raw 
materials, medical equipment, books, 
pesticides and fertilizers. 
Fifty paisa for every 
one hundred rupees 
or part thereof of the 
amount of the Letter 
of Credit.” 
3. Amendment of Act V of 1958 .– In the Punjab Urban Immovable Property 
Tax Act 1958 (V of 1958), in Section 4, after clause (h), the  following new clause (i) 
shall be added:– 
“(i) one self-occupied residential house having an area not exceeding five 
marlas in a Katchi Abadi notified under the law relating to Katchi 
Abadis.” 
4. Amendment of Act X of 1958.– In the Punjab Entertainments Duty Act 1958 (X 
of 1958), in Section 3 -A, in serial No.3, in column No.3, for the word “hundred”, the 
words “two hundred” shall be substituted. 
5. Amendment of Act XIV of 1973 .– In the Punjab Finance Act 1973 (XIV of 
1973), in the Second Schedule, for the existing serial numbers 6, 7, 8 and 10 and the 
entries against them, the following shall be substituted:– 
“6. Fee for duplicate certificate on loss or destruction of 
certificate of registration of a vehicle, other than a 
transport vehicle, under sub-rule (2) or Rule 37. 
Rs. 50.00 
7. Fee for duplicate certificate on loss or destruction of 
certificate of registration and certificate of fitness of a 
transport vehicle, under sub-rule (2) of Rule 38. 
Rs. 100.00 
8. Fee for duplicate certificate of a defaced or torn 
certificate of registration and certificate of fitness of a 
transport vehicle, under sub-rule (2) of Rule 39. 
Rs. 100.00 
10. Fee for transfer of ownership of a motor vehicle under 
sub-rule (1) of Rule 47 shall be charged at the following 
rates:– 
 (i) a motorcycle, a scooter and an invalid carriage or a 
trailer not having more than two wheels and not 
weighing more than one ton in unladen weight; 
Rs. 100.00 
 (ii) a heavy transport vehicle; and Rs. 2,000.00 
 (iii) any other vehicle. Rs. 1,000.0” 
6. Amendment of Act XV of 1977 .– In the Punjab Finance Act 1977 (XV of 
1977), in the Second Schedule, for serial No.1 and the entries against it, the 
following shall be substituted:– 
“Sr. 
No. 
Class of Persons Rate of Tax Per 
Annum 
1 2 3 
1 Companies registere d under the Companies 
Ordinance 1984 
1% of the net income 
tax payable subject to a 
minimum of Rs.200/-.” 
2
[7. Tax On Luxury Vehicles.– *  *  *  *  *  *  *  * ] 
3
[8. Tax On Luxury Houses.– *  *  *  *  *  *  *  * ] 
                                                           
2Deleted by the Punjab Finance O rdinance, 2000 (III of 2000), w.e.f. 1.7.2000, s.1 2; and published in the Punjab Gazette 
(Extraordinary), dated 30.6.2000, pages 587 -595, which will remain in force under the Provisional Constitution (Amendment) 
Order 1999 (9 of 1999), Article 4, notwithst anding the maximum limit of three months prescribed under Article 128 of the 
Constitution of the Islamic Republic of Pakistan. 
3Deleted by the Punjab Finance Ordinance, 2000 (III of 2000), w.e.f. 1.7.2000, s.1 2; and published in the Punjab Gazette 
(Extraordinary), dated 30.6.2000, pages 587 -595, which will remain in force under the Provisional Constitution (Amendment) 
Order 1999 (9 of 1999), Article 4, notwithstanding the maximum limit of three months prescribed under Article 128 of the 
Constitution of the Islamic Republic of Pakistan. 
4
[9. Cess On Educational Institutions.– *  *  *  *  *  *  * ] 
                                                           
4Deleted by the Punjab Finance Ordinance, 2000 (III of 2000), w.e.f. 1.7.2000, s.1 2; and published in the Punjab Gazette 
(Extraordinary), dated 30.6.2000, pages 587 -595, which will remain in force under the Provisional Constit ution (Amendment) 
Order 1999 (9 of 1999), Article 4, notwithstanding the maximum limit of three months prescribed under Article 128 of the 
Constitution of the Islamic Republic of Pakistan.