PUNJAB FINANCE ACT 2018

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THE PUNJAB FINANCE ACT 2018 
 (XXX of 2018) 
CONTENTS 
1. Short title, extent and commencement 
2. Amendment in Act II of 1899 
3. Amendment in Act XXXII of 1958 
4. Amendments in Act XLII of 2012 
5. Amendments in Act XLIII of 2012 
6. [*****] 
 
 
 
TEXT 
1
THE PUNJAB FINANCE ACT 2018 
(XXX of 2018) 
[29 October 2018] 
 
An 
Act 
to levy, alter and rationalize certain taxes and duties in the Punjab. 
It is necessary in public interest to levy, alter and rationalize certain taxes and duties 
in the Punjab; and, to deal with ancillary matters. 
Be it enacted by Provincial Assembly of the Punjab as follows: 
1. Short title, extent and comme ncement.– (1) This Act may be cited as the 
Punjab Finance Act 2018. 
 (2) It extends to whole of the Punjab. 
 (3) It shall come into force on the first day of November 2018. 
2. Amendment in Act II of 1899 .– In the Stamp Act 1899 (II of 1899), i n 
Schedule-I: 
(a) In Article -1, for the existing entries in column 2 and 3, the 
following shall be substituted: 
 “ACKNOWLEDGMENT of a debt exceeding twenty 
rupees in amount or value, written or signed by, or 
on behalf of, a debtor in order to supply evidence of 
such debt in any book other than  a banker’s pass -
book or on a separate piece of paper when such 
book or paper is left in the creditor’s possession: 
Provided that such acknowledgment does 
not contain any promise to pay the debt or any 
stipulation to pay interest or to deliver any goods or 
other property- 
(a) where such amount does 
not exceed ten thousand 
rupees. 
(b) where such amount 
exceeds ten thousand 
rupees but does not 
Ten rupees 
 
Twenty rupees 
 
                                                             
1
This Act was passed by the Provincial Assembly of the Punjab on 25 October 2018; assented to by the Governor of the Punjab 
on 26 October 2018; and, was published in the Punjab Gazette (Extraordinary), dated: 29 October 2018, pp.805-818 
exceed twenty thousand 
rupees. 
(c) where such amount 
exceeds twenty thousand 
rupees. 
 
Fifty rupees.” 
(b) In Article 19, for the existing entries in column 2 and column 3, the 
following shall be substituted. 
“CERTIFICATE OR OTHER 
DOCUMENT evidencing the right or 
title of the holder thereof or any 
other person, either to any shares , 
scrip or stock in or of any 
incorporated company or other body 
corporate, or to become proprietor 
of shares, scrip or stock in or of any 
such company or body. 
One hundred 
rupees.” 
(c) In Article 22 -A for the existing entries in column 2 and column 3, th e 
following shall be substituted: 
“CONTRACT, that is to say any instrument of the nature of 
memorandum of Agreement made or entered into by a 
contractor with Government, Corporation, Local Body, Local 
Authority, agency or organization set up or controlled by the 
Federal or the Provincial Government- 
(a) to execute any work- 
 
(i) where the amount of 
the contract does 
not exceed five lac 
rupees. 
(ii) where it exceeds 
five lac rupees but 
does not exceed ten 
lac rupees. 
(iii) where it exceeds ten 
lac rupees but does 
not exceed fi fty lac 
rupees. 
(iv) where it exceeds 
fifty lac rupees but 
does not exceed one 
crore and fifty lac 
rupees. 
(v) where it exceeds 
Twelve hundred 
rupees 
 
Two thousand 
rupees 
 
Three thousand 
rupees 
 
Five thousand 
rupees 
 
 
one crore and fifty 
lac rupees. 
 
Ten thousand 
rupees 
(b) to procure stores and 
materials 
Twenty-five paisas 
for every one 
hundred rupees or 
part thereof of the 
amount of the 
contract subject to a 
minimum of twelve 
hundred rupees.” 
(d) In Article 25, for the existing entries in column 2 and column 3, the 
following shall be substituted. 
“COUNTERPART OR 
DUPLICATE of any 
instrument chargeable with 
duty and in respect of 
which the proper duty has 
been paid– 
 
(a) if the duty with which 
the original instrument is 
chargeable does not exceed 
fifty rupees; 
Fifty rupees 
(b) in any other case 
 
Exemption –  
Counterpart of any lease 
granted to cultivator when 
such lease is exempted 
from duty. 
One hundred 
rupees.” 
(e) In Article 28 for the existing entries in column 2 and column 3 the 
following shall be substituted –  
“DELIVERY-ORDER IN 
RESPECT OF GOODS,  
that is to say, any 
instrument entitling any 
person therein named, or 
his assigns or the holder 
thereof, to the delivery of 
any goods lying in any 
One hundred 
rupees.” 
dock or port, or in any 
ware-house in which goods 
are stored or dep osited on 
rent or hire, or upon any 
wharf such instrument 
being signed by or on 
behalf of the owner of such 
goods upon the sale or 
transfer of the property 
therein, when such goods 
exceed in value twenty 
rupees. 
DEPOSIT OF TITLE -
DEEDS. see 
AGREEMENT relating to 
DEPOSIT OF TITLE -
DEEDS, PAWN OR 
PLEDGE (No.6). 
 
DISSOLUTION OF 
PARTNERSHIP, See 
PARTNERSHIP (No. 46). 
 
(f) In Article 36 for the existing entries in column 2 and column 3 the 
following shall be substituted –  
“LETTER OF ALLOTM ENT 
OF SHARES in any company 
or proposed company or in 
respect of any loan to be 
raised by any company or 
proposed company. 
See also CERTIFICATE OR 
OTHER DOCUMENT (No. 
19). 
Fifty rupees” 
(g) In Article 42 for the existing entries in column 2 and column 3 the 
following shall be substituted– 
“NOTARIAL ACT, that is to 
say, any instrument, 
endorsement, note, 
attestation, certificate or 
entry not being a 
PROTEST (No. 50) made 
Fifty rupees.” 
or signed by a Notary 
Public in the execution of 
the duties of his office, or 
by any o ther person 
lawfully acting as a Notary 
Public. 
See also PROTEST OF 
BILL OR NOTE (No.50). 
(h) In Article 47 for the existing entries in column 2 and column 3 the 
following shall be substituted– 
“POLICY OF INSURANCE– 
A-See INSURANCE (see sec tion 
7)– 
 
(1) For each voyage– if drawn 
singly. 
if drawn in 
duplicate, 
for each 
part. 
(i) where the premium 
or consideration does not 
exceed the rate of 1/8 
percent of the amount 
insured by the policy; for 
every full sum of Rs. 5,000 
and also any fractio nal 
parts thereof insured by 
the policy– ; 
Ten 
rupees  
Ten 
rupees 
(ii) in any other case, 
in respect of every full sum 
of Rs. 2,000 and also any 
fractional part thereof 
insured by the policy– . 
Ten 
rupees  
Ten 
rupees 
(2) For time–  
in respect of every f ull sum of 
Rs.2,000 or part thereof 
insured by the policy– 
 
(i) where the 
insurance shall be made 
for any time not exceeding 
six months; 
Ten 
rupees  
Ten 
rupees 
(ii) where the 
insurance shall be made 
Twenty 
rupees 
Ten 
rupees 
for any time exceeding six 
months and not exceeding 
twelve months– . 
B-FIRE-INSURANCE AND 
OTHER CLASSES OF 
INSURANCE, NOT ELSEWHERE 
INCLUDED IN THIS ARTICLE, 
COVERING GOODS, 
MERCHANDISE, PERSONAL 
EFFECTS, CROPS, AND OTHER 
PROPERTY AGAINST LOSS OR 
DAMAGE– 
 
(1) in respect of an original policy–  
(i) when the sum insured 
does not exceed 
Rs.5,000; 
Fifty rupees  
(ii) in any other case and One hundred rupees 
(2) in respect of each receipt for 
any payment of a premium on 
any renewal of an original 
policy. 
One half of the duty 
payable in r espect of 
the original policy in 
addition to the 
amount, if any, 
chargeable under 
No. 53  
C-ACCIDENT AND SICKNESS-
INSURANCE– 
 
(a) Against railway accident, 
valid for a single journey only. 
Fifty rupees 
Exemption  
When issued to a passenger 
travelling b y the intermediate 
or the third class in any 
railway. 
 
(b) In any other case for the 
maximum amount which may 
become payable in the case of 
any single accident or sickness 
where such amount does not 
exceed Rs.2,000 and also 
where such amount exceeds 
Rs.2,000 for every Rs.2,000 or 
part thereof. 
Ten rupees; 
provided that, in 
case of a policy of 
insurance against 
death by accident 
when the annual 
premium payable 
does not exceed 
Rs. 10  per Rs. 
100,000 the duty 
on such instrument 
shall be ten rupees 
for every Rs. 1,000 
or part thereof of 
the maximum 
amount which may 
become payable 
under it. 
D-INSURANCE BY WAY OF 
INDEMNITY– Against liability to 
pay damages on account of 
accidents to workmen employed 
by or under the insurer or against 
liability to pay compensati on 
under the Workmen’s 
Compensation Act, 1923, for 
every Rs.100 or part thereof 
payable as premium. 
Three rupees 
E-LIFE INSURANCE OR OTHER 
INSURANCE NOT 
SPECIFICALLY PROVIDED 
FOR, except such a RE-
INSURANCE as is described in 
Division of this article– 
If drawn  
singly 
If drawn in 
duplicate 
for each 
part 
 
(i) for every sum insured not 
exceeding Rs.250; 
Ten  
rupees 
 
Ten  
rupees 
 
(ii) for every sum insured 
exceeding Rs.250 but not 
exceeding Rs.500; 
Ten  
rupees 
Ten  
rupees 
 
(iii) for every sum insured 
exceeding Rs.500 but not 
exceeding Rs.1,000 and 
also for every Rs.1,000 or 
part thereof in excess of 
Rs.1,000. 
Ten  
rupees 
Ten  
rupees 
 
Exemption  
Policies of life insurance granted 
by the Director -General of Post 
Offices in accordance with rules 
 
 
(i) In Article 49 for the existing entries in column 2 and column 3 
the following shall be substituted– 
“PROMISSORY NOTE  as 
defined by section 2(22)– 
 
(a) when payable on 
demand– 
 
(i) when the amount or 
value does not exceed Rs. 
2,50,000/-
 
Two hundred rupees 
(ii) when the amount or 
value exceeds Rs. 2,50,000/ - 
but does not exceed Rs. 
5,00,000/-
 
Three hundred 
rupees 
(iii) in any other case
 
Five hundred rupees” 
(b) when payable 
otherwise than on demand, 
including a commercial paper. 
One-fiftieth of one 
percent, that is to 
say, 0.02% per 
for Postal L ife Insurance issued 
under the authority of the Federal  
Government. 
F-RE-INSURANCE BY AN 
INSURANCE COMPANY WHICH 
HAS GRANTED A POLICY OF 
THE NATURE SPECIFIED IN 
DIVISION A OR DIVISION B OF 
THIS ARTICLE WITH ANOTHER 
COMPANY BY WAY OF 
INDEMNITY OR GUARANTE E 
AGAINST THE PAYMENT ON 
THE ORIGINAL INSURANCE OF 
A CERTAIN PART OF THE SUM 
INSURED THEREBY. 
One half of the duty 
payable in respect 
of the original 
insurance but not 
less than ten 
rupees or more 
than one hundred 
rupees 
General Exemption  
Letter of cove r or engagement to 
issue a policy of insurance: 
 
Provided that, unless such letter 
or engagement bears the stamp 
prescribed by this Act for such 
policy nothing shall be claimable 
thereunder, nor shall it be 
available for any purpose, except 
to compel the delivery of the 
policy therein mentioned. 
 
annum of the amount 
payable subject to a 
maximum of one 
hundred thousand 
rupees. 
(j) In Article 50 for the existing entries in column 2 and column 3 
the following shall be substituted– 
“PROTEST OF BILL OR 
NOTE, that is to say, any 
declaration in writing made by 
a Notary Public, or other 
person lawfully acting as 
such, attesting the dishonour 
of a Bill of Exchange for 
promissory note. 
One hundred 
rupees.” 
(k) In Article 52 for t he existing entries in column 2 and column 3 
the following shall be substituted– 
“PROXY empowering any 
person to vote at any one 
election of the members of a 
district or local board or of a 
body of municipal 
commissioners, or at any one 
meeting of (a) members of an 
incorporated company or 
other body corporate whose 
stock or funds is or are 
divided into shares and 
transferable; (b) a local 
authority; or (c) proprietors, 
members or contributors to 
the funds of any institution. 
Fifty rupees.” 
(l) In Article 5 3 for the existing entries in column 2 and column 3 
the following shall be substituted – 
“RECEIPTS as defined by 
section 2 (23) for any money 
or other property the amount 
or value of which exceeds 
twenty rupees– 
 
(a) where such amount 
does not exceed ten 
thousand rupees 
Ten rupees 
(b) where such amount 
exceeds ten thousand 
rupees but does not 
exceed twenty 
thousand rupees 
Twenty rupees 
(c)  where such amount 
exceeds twenty 
thousand rupees 
Fifty rupees.” 
Exemptions  
Receipts–  
(a) endorsed on or 
contained in any instrument 
duly stamped or any 
instrument exempted under 
the proviso to section 3 
(instruments executed on 
behalf of the Government) or 
any cheque or bill of 
exchange, payable on 
demand acknowledging the 
receipt of the consideration 
money therei n expressed, or 
the receipt of any principal -
money, interest or annuity, or 
other periodical payment 
thereby secured; 
 
(b) for any payment of 
money without consideration; 
 
(c) for any payment of 
rent by a cultivator on account 
of land assessed to 
Government revenue; 
 
(d) for pay or allowances 
by non-commissioned or petty 
officers, soldiers, sailors or 
airmen of the armed forces of 
Pakistan/Pakistan’s military, 
naval or air forces, when 
serving in such capacity, or by 
mounted police-constables; 
 
(e) given by holders of 
family-certificates in cases 
where the person from whose 
pay or allowances the sum 
 
comprised in the receipt has 
been assigned as a non -
commissioned or petty officer, 
soldier, sailor or airman, or 
any of the said forces and 
serving in such capacity; 
(f) for pensions or 
allowances by persons 
receiving such pensions or 
allowances in respect of their 
services as such, non -
commissioned or petty 
officers, soldiers, sailors or 
airmen, and not serving the 
State in any other capacity; 
 
(g) given by a headman or 
lambardar for land -revenue or 
taxes collected by him; 
 
(h) given for money or 
securities for money 
deposited in the hands of any 
banker to be accounted for: 
 
Provided that the same is not 
expressed to be received of, 
or by the hands of, an y other 
than the person to whom the 
same is to be accounted for: 
 
Provided also that this 
exemption shall not extend to 
receipt or acknowledgment for 
any sum paid or deposited for, 
or upon a letter of allotment of 
a share, or in respect of a call 
upon any scrip or share of, or 
in, any incorporated company 
or other body corporate or 
such proposed or intended 
company or body or in respect 
of a debenture being a 
marketable security. 
 
3. Amendment in Act XXXII of 1958 .– In the Punjab Motor Vehicle Taxation 
Act, 1958 (XXXII of 1958), in the SCHEDULE: 
(a) at S.No.1, in clauses (a) and (b), in column No. 2, for the figure 
“1200”, the figure “1500” shall be substituted; and 
(b) at S.No.4, in clause (b), in sub -clause (i) and in the proviso 
thereto, in column No. 2 , for the word “ten”, wherever occurs, 
the word “fifteen” shall be substituted.  
4. Amendments in Act XLII of 2012.– In the Punjab Sales Tax on Services Act 
2012 (XLII of 2012): 
(1) In section 2, after clause (9), the following new clauses (9A) and (9B) 
shall be inserted: 
“(9A) “commission" includes any consideration in whatever form, received or 
receivable directly or indirectly, by a person acting on behalf of 
another person for services rendered, not being professional services, 
in the course of buying o r selling of goods or services or in relation to 
any transaction relating to any asset, valuable article or thing, not 
being securities; 
“(9B) “commission agent” means a person who acts for  consideration on 
behalf of another person for sale or purchase of  goods or provision or 
receipt of services, and includes any person who, while acting on 
behalf of another person: 
(a) deals with goods, services or documents of title of such 
goods or services;   
(b) collects payment in lieu of such goods or services;  
(c) guarantees for collection or payment for such goods or 
services; or  
(d) undertakes any activity relating to sale or purchase of 
such goods or provision or receipt of  services.”. 
(2) In section 6, in subsection (1), in clause (b), after the word “movable” 
the words “or immovable” shall be inserted. 
(3) In section 18, for subsection (1), the following shall be substituted: 
“(1) Notwithstanding anything to the contrary contained in this Act 
or any other law for the time being in force, tax in respect of a taxable 
service provided during a tax period shall be paid by a person at the 
time of filing the return in respect of that period under Chapter VI.”. 
(4) In section 27: 
 (1) in subsections (1) and (2), for the word “Authority” wherever 
occurs, the word” Commissioner” shall be substituted; and 
 (2) for subsection (3) the following shall be substituted:  
“(3) The Authority may, by notification in the official 
Gazette, authorize any other officer to perform any of 
the functions under this section relating to compulsory 
registration of a person for any of the taxable 
services.”. 
(5) In section 31, in subsection (5), for the expression “Companies Ordinance, 
1984 (XLVII of 1984) ”, the expression “Companies Act, 2017 (XIX of 2017) ” 
shall be substituted. 
(6) In section 32, in subse ction (1), for the word “six”, the word “eight” shall be 
substituted. 
(7) In section 35, in subsection (1), the words “a designated bank or any other 
office specified by” shall be omitted. 
(8) In section 48, in subsection (2), in the TABLE, in columns 1 to  4, after 
S.No.14, the following new entries shall be inserted:  
“15 Where any person:  
(a) avoids, denies or 
obstructs installation of 
electronic invoice monitoring 
system at a business 
premises; or 
(b) fails to comply with the 
electronic invoice monitori ng 
system or issues invoices 
bypassing the system. 
Such person shall be 
liable to pay a penalty of 
up to one hundred 
thousand rupees, but not 
less than twenty five 
thousand rupees. In case 
of three acts of 
commission or omission, 
the business premises of 
such person may further 
be liable to be sealed for 
a period which may 
extend to one month. 
59A 
16 Where any person: 
(a) causes intentional 
damage to or intervention in 
the electronic invoice 
monitoring system; or 
(b) impedes or obstructs 
transmission of in voice data 
to the Authority. 
Such person shall be 
liable to pay a penalty of 
one hundred thousand 
rupees for each act of 
commission. In case of 
three acts of such 
commission, the business 
premises of such person 
shall be liable to be 
sealed for a period wh ich 
may extend to one month 
and such person shall 
further be liable, upon 
conviction by a Special 
Judge, to imprisonment 
for a term which may 
extend to one year, or 
with fine which may 
extend to the amount 
equal to the tax payable 
for the tax period to whi ch 
the offence relates, or 
with both.”  
59A 
(9) In section 52, in subsections (1) and (2), for the word “five” wherever occurs, 
the word “eight” shall be substituted.  
(10) After section 59, the following new sections 59A and 59B shall be inserted: 
“59A. Power to Seal the Business Premises .– When an officer of 
the Authority not below the rank of Commissioner has reason to 
believe that the Act or the rules made thereunder are not obeyed and 
observed at a business premises, he may by an order in writing, sea l 
that premises for a period which may extend to one month upon giving 
a notice in writing to this effect. 
 59B. Monitoring or Tracking by Electronic or other Means .– (1) 
Subject to such conditions, restrictions and procedures, as it deems fit 
to impose, t he Authority may, by notification in the official Gazette, 
determine any registered person or class of registered persons or any 
of the services or class of services in respect of which monitoring or 
tracking of provision of service or services may be enfo rced through 
electronic or other means. 
(2) The Authority may, in the prescribed manner, devise 
and enforce an electronic system for monitoring and capturing the 
transactions recorded or the invoices issued by a registered person or 
a class of registered p ersons or a service or services or class of 
services, and for transferring the electronic information so obtained to 
its computer system at such times as it deems fit. 
  (3) The Commissioner may order, as and when required, 
video vigilance of the economic activity of a registered person or class 
of registered persons to monitor provision of taxable services including 
counting of heads of visiting customers, occupancy of sitting space 
and regularity of issuance of invoices. 
  (4) For the purpose of this sect ion, the Authority shall, in 
the prescribed manner, take measures for the security protection and 
processing of personal data of natural persons. 
   (5) From such date as may be specified by the Authority, 
the persons providing or rendering taxable service s shall compulsorily 
use such electronic means, modes or systems, as may be prescribed 
by the Authority for issuance of tax invoice.”. 
(11) After section 67, the following new section 67A shall be inserted: 
“67A. Reference to the High Court .– (1) A referen ce to the High 
Court shall lie only if a question of law is involved in a case.   
  (2) Notwithstanding anything contained in section 67, a 
taxpayer or the officer not below the rank of Additional Commissioner, 
aggrieved by any decision or order of the App ellate Tribunal may, 
within sixty days of communication of such decision or order, prefer a 
reference, in the prescribed form, along with a statement of the facts 
of the case and the question of law involved in that case to the Lahore 
High Court Lahore. 
   (3) The reference under this section shall be heard by a 
Bench of at least two Judges of the High Court and the provisions of 
section 98 of the Code of Civil Procedure 1908 (V of 1908) shall apply 
mutatis mutandis to such reference.    
  (4) The High Court shall send a copy of its judgment under 
the seal of the Court to the Appellate Tribunal.  
   (5) Notwithstanding a reference preferred in the High Court 
under this section, the tax shall be paid in accordance with the order 
of the Appellate Tribunal. 
  (6) If the tax liability is reduced by the High Court and the 
Authority decides to seek leave to appeal to the Supreme Court, the 
Authority may, within thirty days of the receipt of the judgment in the 
reference, apply to the High Court to postpone the refu nd of tax until 
the decision by the Supreme Court.    
   (7) Section 5 of the Limitation Act 1908 (IX of 1908)  shall 
apply to a reference under this section.    
   (8) A court fee of rupees one thousand shall be paid for a 
reference under this section except when it is filed by the Authority.”. 
  (12) In Second Schedule: 
(i) in serial No.4, in column 2, after the word “businesses”, the words 
“including any cash collection incidental thereto” shall be inserted; 
(ii) in serial No.7, in column 2, for the exist ing entry, the following shall be 
substituted:  
“Services provided in respect of insurance to a policy holder by 
an insurer, including a re-insurer for: 
(a) fire insurance; 
(b) goods insurance; 
(c) health insurance; 
(d) life insurance; 
(e) marine insurance; 
(f) theft insurance; and 
(g) any other insurance. 
 EXCLUDING:  
(a)  marine insurance for export; and 
(b)   crop insurance.”; 
(iii) in serial No.14, in column 4, for the existing entry, the following shall 
be substituted:  
“five percent without input tax credit/adjustment in respect  of 
Government civil works and sixteen percent with input tax 
credit/adjustment for others”;  
(iv) in serial No.18, in column 2, the words “including cosmetic and plastic 
surgery and hair transplants” shall be omitted; 
(v) in serial No.24, in column 2, aft er the words “convention services” the 
expression “including provision of space, equipment, accessories and 
other allied services” shall be inserted; 
(vi) in serial No.48: 
(a) in column 2, the following shall be omitted: 
   “EXCLUDING: 
Services provided by  an individual owner of a vehicle for carriage of 
goods.”; 
(b) in column 4, for the words “Sixteen precent”, the words “Fifteen 
percent” shall be substituted; 
(vii) in serial No.56, in column 2, for the existing entry, the following shall 
be substituted: 
 “Debt Collection, rent collection and similar other recovery or 
collection services including right to collect the toll or fee or 
regulatory fee or duty or any other similar collection; 
 (viii) in serial No.60, in column 2, for the existing entry, the foll owing shall 
be substituted: 
“Services provided by skin and laser clinics, cosmetic and 
plastic surgeons and hair transplant services including 
consultation services. 
    Excluding: 
   Services provided to acid or burn victims.”; 
(ix) in serial No.61, in column 2, for the existing entry, the following shall be 
substituted: 
“Services provided by warehouses or depots for storage or 
cold storages including letting of space for storages. 
Excluding: 
Storage of agriculture produce for the person’s own 
consumption.”; 
(x) after serial No. 62, in columns 1 to 4, the following new entries shall 
be inserted at serial No. 63: 
 
 “63 Parking services  
 
Respective 
headings 
Sixteen 
percent” 
 
 
5. Amendments in Act XLIII of 2012 .– In the Punjab Revenue Authority Act 
2012, (XLIII of 2012):  
(1) In section 3, in subsection (4), for the words “not less than four members to” 
the words “such number of members as may” shall be substituted. 
(2) In Chapter VI, for the heading “APPEALS AND REFERENCES”, the heading 
“APPELLATE TRIBUNAL”, shall be substituted.  
(3) In section 18, in subsection (3), in clause (a), in sub-clause (iii), after the word 
“belongs” the word “or has belonged” shall be inserted. 
 (4) Sections 19 and 20 shall be omitted. 
6. 
2
[* * * * * * * * * * * * ]  
                                                             
2
Omitted by the Punjab Finance A ct 2019 (XV of 2019), published in the Punjab Gazette (Extraordinary), dated: 28 June 2019, 
pp. 4105-4114, s. 9.