PUNJAB FINANCE ACT, 1995
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THE PUNJAB FINANCE ACT, 1995 (VI of 1995)
FIRST SCHEDULE
2. SECOND SCHEDULE
TEXT 1THE PUNJAB FINANCE ACT, 1995 (VI of 1995) [27th June, 1995] An Act to levy and enhance the rates of certain taxes, duties and fees in the Punjab.
Preamble.– Whereas it is expedient to levy and enhance the rates of certain taxes, duties and fees in the Punjab;
It is hereby enacted as follows:–
Section 1. Short title, extent and commencement
(1) This Act may be called the Punjab Finance Act 1995.
(2) It shall extend to the whole of the Punjab.
(3) It shall come into force on and from the first day of July 1995.
Section 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 1, for the existing sub-articles (a) to (d), the following shall be substituted:– “(a) where such amount does not exceed One rupee two thousand rupees
(b) where such amount exceeds two Two rupees thousands rupees but does not exceed ten thousand rupees
(c) where such amount exceeds Five rupees”;
ten thousand rupees
(2) in Article 2, in sub-article (b), for the word “Fifty”, the words “One hundred” shall be substituted;
(3) in Article 3, for the word “Fifty”, the words “One hundred” shall be substituted;
(4) in Article 4, for the word “Five”, the word “Ten” shall be substituted;
(5) in Article 5–
(i) in sub-article (a), for the word “One”, the word “Two” shall be substituted;
(ii) in sub-article (b), for the words “Fifty paisa”, the words “One rupee” and for the words “subject to a maximum of fifty rupees”,
1This Act was passed by the Punjab Assembly on 27th June, 1995; assented to by the Governor of the Punjab on 27th June, 1995; and, was published in the Punjab Gazette (Extraordinary), dated 27th June, 1995, pages 103 to 112.
the words “subject to a maximum of one hundred rupees” shall be substituted;
(iii) in sub-article (c), for the words “Twenty five paisa”, the words “One rupee” shall be substituted;
(iv) the following new sub-article (cc) shall be added:– “(cc) if relating to the sale of immovable property Fifty rupees”
(v) in sub-article (d), for the word “Ten”, the word “Twenty” shall be substituted;
(6) in Article 7–
(i) in sub-article (a), for the words “Thirty five”, the word “Fifty” shall be substituted; and
(ii) in sub-article (b), for the word “seventy”, the words “One hundred” shall be substituted;
(7) in Article 8–
(i) in sub-article (a), for the words “The same duty as on a Bond (No.15) for such amount”, the words “Three rupees for every one hundred rupees or part thereof” shall be substituted; and
(ii) in sub-article (b), for the word “Fifty”, the words “One hundred” shall be substituted;
(8) in Article 9, for the word “Fifty”, the words “One hundred” shall be substituted;
(9) for Article 10, the following shall be substituted:– “10. ARTICLES OF ASSOCIATION OF A COMPANY One hundred rupees plus ten paisa per one hundred rupees of the amount of the share capital or the nominal share capital, subject to a maximum of five thousand rupees.”;
(10) in Article 12, for the words “The same duty as on a Bond (No.15)”, the words “Three rupees for every one hundred rupees or part thereof” shall be substituted;
(11) in Article 13–
(i) for sub-article (a), the following shall be substituted:- “(a) where payable otherwise than on demand but not more than one year after date or sight–
(i) if drawn singly two rupees for every one thousand rupees or part thereof of the amount of the Bill
(ii) if drawn in set of two or more, for each part of the set one rupee for every one thousand rupees or part thereof of the amount of the
Bill
(ii) in sub-article (b), for the words “one half of the duty payable on a Bond (No.15) for the same amount”, the following shall be substituted:– “If drawn singly If drawn in set of two, for each part of the set If drawn in set of three, for each part of the set Three rupees for every one thousand rupees or part thereof of the amount of the Bill Two rupees for every one thousand rupees or part thereof of the amount of the Bill one rupee for every one thousand rupees or part thereof of the amount of the Bill”
(12) in Article 14, for the words “One rupee”, the word “Ten rupees” shall be substituted;
(13) for Article 15, the following shall be substituted:– “15.BOND as defined by section 2(5) not being a DEBENTURE (No.27) and not being otherwise provided for by this Act, or by the Court Fees Act, 1870–
(i) where the amount or value secured does not exceed five hundred rupees Fifteen rupees
(ii) where it exceeds five hundred rupees, for every additional amount of five hundred rupees or part thereof Fifteen rupees”;
(14) in Article 17, for the word “twenty”, the word “Fifty” shall be substituted;
(15) for Article 18, the following shall be substituted:– “18. CERTIFICATE OF SALE (in respect of each property put up as a separate lot and sold) granted to the purchaser of any property sold by public auction by a Civil or Revenue Court, or Collector or other Revenue Officer The same duty as on a Conveyance (No.23), for a consideration equal to the amount of the purchase money”;
(16) in Article 19, for the word “Two”, the word “Five” shall be substituted;
(17) in Article 20, for the word “Five”, the word “Ten” shall be substituted;
(18) in Article 22, for the word “Fifty”, the words “One hundred” shall be substituted;
(19) after Article 22, the following new Article 22-A shall be added:– “22-A. 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 organisation 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 fifty thousand rupees One hundred rupees
(ii) where it exceeds fifty thousand rupees but does not exceed five lac rupees Two hundred rupees
(iii) where it exceeds five lac rupees but does not exceed fifteen lac rupees Five hundred rupees
(iv) where it exceeds fifteen lac rupees but does not exceed twenty five lac rupees Seven hundred and fifty rupees
(v) where it exceeds twenty five lac rupees One thousand rupees
(b) to procure stores and materials Twenty five paisa for every one hundred rupees or part thereof of the amount of the contract”;
(20) in Article 24, in sub-article (ii), for the word “Five”, the word “Ten” shall be substituted;
(21) in Article 25, in sub-article (b), for the word “Five”, the word “Ten” shall be substituted;
(22) in Article 26, in sub-article (b), for the word “Fifty”, the words “One hundred” shall be substituted;
(23) in Article 27, for sub-article (b), the following shall be substituted:–
“(b) by delivery– for every rupees five hundred or part thereof of the face value of the debenture or participation term certificate Eighteen rupees”;
(24) in Article 28, for the word “Two”, the word “Five” shall be substituted;
(25) in Article 29, for the word “Fifteen”, the word “Thirty” shall be substituted;
(26) for Article 33, the following shall be substituted:– “33. GIFT– Instrument of, including a memorandum of oral gift of immovable property, not being a SETTLEMENT (No.58) or WILL OR TRANSFER (No.62)–
(a) (i) when executed in favour of legal heirs in respect of agricultural land Two rupees for every one hundred rupees or part thereof of the value of the property as set forth in such instrument
(ii) in any other case, in respect of agricultural land Five rupees for every one hundred rupees or part thereof of the value of the property
(b) (i) when executed in favour of legal heirs in respect of immovable property other than agricultural land Three rupees for every one hundred rupees or part thereof of the value of the property as notified by the District Collector
(ii) when executed in respect of immovable property in an urban area as defined under Explanation-I in Article 23 Seven rupees for every one hundred rupees or part thereof of the value of the property as notified by the District Collector
(c) other property Six rupees for every one hundred rupees or part thereof of the value of the property”;
(27) in Article 37, for the words “Two rupees”, the following shall be substituted:– “Ten rupees plus five paisa per one hundred rupees subject to a maximum of five hundred rupees”;
(28) in Article 38, for the word “Thirty”, the word “Fifty” shall be substituted;
(29) in Article 39, for sub-articles (a) and (b), the following shall be substituted:– “one hundred rupees plus one rupee per one hundred rupees or part thereof subject to a maximum of five thousand rupees”
(30) in Article 41, for sub-articles (a) and (b), the following shall be substituted:– “(a) when the loan is repayable, not more than three months from the date of the instrument, for every two hundred rupees or part thereof of the sum secured One rupee
(b) when the loan is repayable more than three months, but not more than eighteen months from the date of the instrument, for every one hundred rupees or part thereof of the sum secured Two rupees”;
(31) in Article 43–
(i) in sub-article (a), for the word “Two”, the word “Five” shall be substituted;
(ii) in sub-article (b), for the word “Two”, the word “Five” shall be substituted;
(iii) in sub-article (c), for the word “Forty”, the word “Fifty” shall be substituted;
(32) in Article 45, for the words “The same duty as on a Bond (No.15)”, the words “Three rupees for every one hundred rupees or part thereof” shall be substituted;
(33) in Article 46, in Part A–
(i) in sub-article (a), for the word “Fifty”, the words “One hundred” shall be substituted;
(ii) in sub-article (b), for the words “Two hundred and fifty”, the words “Five hundred” shall be substituted;
(34) in Article 48, for sub-articles (a) to (f), the following shall be substituted:– “(a) when executed for authorizing not more than ten persons;
One hundred rupees
(b) when given for consideration and authorizing the attorney to sell any immovable property The same duty as is leviable on a conveyance (No.23) for the amount of the consideration
(c) in any other case Ten rupees for each person authorized”
(35) in Article 49, for sub-article (a), the following shall be substituted:–
“(a) when payable on demand–
(i) when the amount or value does not exceed Rs. 2,50000/- Thirty rupees
(ii) when the amount or value exceeds Rs.2,50000/- but does not exceed Rs.5,00000/- Sixty rupees
(iii) in any other case One hundred rupees”
(36) in Article 50, for the word “Five”, the word “Ten” shall be substituted;
(37) in Article 51, for the word “Five”, the word “Ten” shall be substituted;
(38) in Article 52, for the word “Two”, the word “Five” shall be substituted;
(39) in Article 53, for sub-articles (a) to (d), the following shall be substituted:– “(a) where such amount does not exceed two thousand rupees One rupee
(b) where such amount exceeds two thousand rupees but does not exceed ten thousand rupees Two rupees
(c) where such amount exceeds ten thousand rupees Five rupees”
(40) in Article 54–
(i) in sub-article (a), for the words “The same duty as on a Bond (No.15) for the amount of such consideration as set forth in the re-conveyance.”, the words “Thirty rupees” shall be substituted;
(ii) in sub-article (b), for the word “Fifty”, the words “One hundred” shall be substituted;
(41) in Article 55, for the words “The same duty as on a Bond (No.15)”, the words “Four rupees for every one hundred rupees or part thereof” shall be substituted;
(42) in Article 57–
(i) in sub-article (a), for the words “The same duty as on a Bond (No.15) for the amount secured”, the words “Thirty rupees” shall be substituted;
(ii) in sub-article (b), for the word “Fifty”, the words “One hundred” shall be substituted;
(43) in Article 58, in Part A, in clause (i), for the words “One rupee”, the words “Two rupees” shall be substituted;
(44) in Article 60, for the word “Two”, the word “Five” shall be substituted;
(45) in Article 61, in sub-article (b), for the word “Fifty”, the words “One hundred” shall be substituted; and
(46) in Article 64, for the word “Fifty”, wherever occurring, the words “One hundred” shall be substituted.
Section 3. Amendment of Act XIV of 1973
In the Punjab Finance Act 1973 (XIV of 1973), in the Sixth Schedule, in column 3, against serial No.9, for the words and figures “Rs.2.00 per maund” and “Rs. 4.00 per maund”, the words “paisa eight per kg” and “paisa sixteen per kg”, shall respectively be substituted.
Section 4. Amendment of Act XV of 1977
In the Punjab Finance Act, 1977 (XV of 1977), for the Second Schedule, the First Schedule to this Act shall be substituted.
Section 5. Amendment of Ordinance XIII of 1978
In the Punjab Finance Ordinance, 1978 (XIII of 1978), in section 9, for the words “One and a half paisa”, the words “paisa two” shall be substituted.
[2] Section 6. Provincial Tax on Bank Cheques
* * * * * * * * * *]
[3] Section 7. Tax on Advertisements
* * * * * * * * * * * ]
2Deleted by the Punjab Finance Ordinance, 2000 (III of 2000), w.e.f. 1.7.2000, s.10; 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.
Section 8. Punjab Education and Infrastructure Development Cess
(1) There shall be levied and collected a cess to be called the “Punjab Education and Infrastructure Development Cess” at the rate of five percent of the octroi or export tax collected by a local council established under any law relating to the local government for the time being in force.
(2) The cess payable under this section shall be collected and paid to Government by the local council concerned in such manner as may be prescribed.
(3) The Government shall apply the cess, collected under this section, for development generally and for the development of education, in particular.
(4) The Government may make rules for carrying out the purposes of this section.
3Deleted by the Punjab Finance Ordinance, 2000 (III of 2000), w.e.f. 1.7.2000, s.10; 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.
FIRST SCHEDULE
(see section 4) “SECOND SCHEDULE (see section 3 of the Punjab Finance Act, 1977)
Sr.
No. Class of Persons Rate of Tax per annum 1 2 3
Paragraph 1. Companies registered under the Companies Ordinance, 1984 with paid up capital
(Rupees)
(i) exceeding rupees one million but not exceeding rupees ten million 2,000.00
(ii) exceeding rupees ten million but not exceeding rupees fifty million 5,000.00
(iii) exceeding rupees fifty million 10,000.00
2. Persons other than Companies, owning Factories, as defined under the Factories Act and having 10 or more employees. 1,000.00
3. Persons other than Companies, owning commercial establishments having 10 or more employees. 1,000.00
Paragraph 4. Persons engaged in the Import or Export of goods who during the preceding financial year have imported or exported goods of the value
(i) exceeding rupees one lac but not exceeding rupees one million 1,000.00
(ii) exceeding rupees one million but not exceeding rupees five million 2,000.00
(iii) exceeding rupees five million 5,000.00
Paragraph 5. Contractors who during the preceding financial year supplied to the Federal or the Provincial Government or any Local Authority goods, commodities and services of the value
(i) exceeding rupees five lac but not exceeding rupees two and a half million 1,000.00
(ii) exceeding rupees two and a half million but not exceeding rupees ten million 2,000.00
(iii) exceeding rupees ten million but not exceeding rupees twenty five million 5,000.00
(iv) exceeding rupees twenty five million 10,000.00
6. Persons who are engaged in a Profession, Trade, Calling or Employment either wholly or partly within the province of Punjab who were assessed to pay income tax during the preceding financial year. 200.00
Print contents from the source
CONTENTS 1. Short title, extent and commencement 2. Amendment of Act II of 1899 3. Amendment of Act XIV of 1973 4. Amendment of Act XV of 1977 5. Amendment of Ordinance XIII of 1978 6. [Repealed] 7. [Repealed] 8. Punjab Education and Infrastructure Development Cess SCHEDULES 1.
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THE PUNJAB FINANCE ACT, 1995
(VI of 1995)
CONTENTS
1. Short title, extent and commencement
2. Amendment of Act II of 1899
3. Amendment of Act XIV of 1973
4. Amendment of Act XV of 1977
5. Amendment of Ordinance XIII of 1978
6. [Repealed]
7. [Repealed]
8. Punjab Education and Infrastructure Development Cess
SCHEDULES
1. FIRST SCHEDULE
2. SECOND SCHEDULE
TEXT
1
THE PUNJAB FINANCE ACT, 1995
(VI of 1995)
[27th June, 1995]
An
Act
to levy and enhance the rates of certain taxes, duties and fees in the Punjab.
Preamble.– Whereas it is expedient to levy and enhance 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 1995.
(2) It shall extend to the whole of the Punjab.
(3) It shall come into force on and from the first day of July 1995.
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 1, for the existing sub -articles (a) to (d), the following shall be
substituted:–
“(a) where such amount does not exceed One rupee
two thousand rupees
(b) where such amount exceeds two Two rupees
thousands rupees but does not exceed
ten thousand rupees
(c) where such amount exceeds Five rupees”;
ten thousand rupees
(2) in Article 2, in sub -article (b), for the word “Fifty”, the words “One
hundred” shall be substituted;
(3) in Article 3, for the word “Fifty”, the words “One hundred” shall be
substituted;
(4) in Article 4, for the word “Five”, the word “Ten” shall be substituted;
(5) in Article 5–
(i) in sub -article (a), for the word “One”, the word “Two” shall be
substituted;
(ii) in sub -article (b), for the words “Fifty paisa”, the words “ One
rupee” and for the words “subject to a maximum of fifty rupees”,
1This Act was passed by the Punjab Assembly on 27th June, 1995 ; assented to by the Governor of the Punjab on 27th June,
1995; and, was published in the Punjab Gazette (Extraordinary), dated 27th June, 1995, pages 103 to 112.
the words “subject to a maximum of one hundred rupees” shall
be substituted;
(iii) in sub -article (c), for the words “Twenty five paisa”, the words
“One rupee” shall be substituted;
(iv) the following new sub-article (cc) shall be added:–
“(cc) if relating to the sale of immovable property Fifty rupees”
(v) in sub-article (d), for the word “Ten”, the word “Twenty” shall be
substituted;
(6) in Article 7–
(i) in sub-article (a), for the words “Thirty five”, the word “Fifty” shall
be substituted; and
(ii) in sub -article (b), for the word “seventy”, the words “One
hundred” shall be substituted;
(7) in Article 8–
(i) in sub -article (a), for the words “The same duty as on a Bond
(No.15) for suc h amount”, the words “Three rupees for every
one hundred rupees or part thereof” shall be substituted; and
(ii) in sub-article (b), for the word “Fifty”, the words “One hundred”
shall be substituted;
(8) in Article 9, for the word “Fifty”, the words “One h undred” shall be
substituted;
(9) for Article 10, the following shall be substituted:–
“10. ARTICLES OF
ASSOCIATION
OF A
COMPANY
One hundred rupees plus ten paisa per one
hundred rupees of the amount of the share
capital or the nominal share capital, subject to a
maximum of five thousand rupees.”;
(10) in Article 12, for the words “The same duty as on a Bond (No.15)”, the
words “Three rupees for every one hundred rupees or part thereof”
shall be substituted;
(11) in Article 13–
(i) for sub-article (a), the following shall be substituted:-
“(a) where payable otherwise than on demand but not more
than one year after date or sight–
(i) if drawn singly two rupees for every one
thousand rupees or part
thereof of the amount of the
Bill
(ii) if drawn in set of two
or more, for each
part of the set
one rupee for every one
thousand rupees or part
thereof of the amount of the
Bill
(ii) in sub-article (b), for the words “one half of the duty payable on
a Bond (No.15) for the same amount”, the following shall be
substituted:–
“If drawn singly If drawn in set of two ,
for each part of the set
If drawn in
set of
three, for
each part
of the set
Three rupees for every
one thousand rupees
or part thereof of the
amount of the Bill
Two rupees for every
one thousand rupees or
part thereof of the
amount of the Bill
one rupee
for every
one
thousand
rupees or
part thereof
of the
amount of
the Bill”
(12) in Article 14, for the words “One rupee”, the word “Ten rupees” shall be
substituted;
(13) for Article 15, the following shall be substituted:–
“15.BOND as defined by section 2(5) not being a DEBENTURE
(No.27) and not being otherwise provided for by this Act, or by the
Court Fees Act, 1870–
(i) where the amount or value secured does not exceed five
hundred rupees Fifteen rupees
(ii) where it exceeds five hundred rupees, for every
additional amount of five hundred rupees or part thereof
Fifteen rupees”;
(14) in Article 17, for the word “twenty”, the word “Fifty” shall be substituted;
(15) for Article 18, the following shall be substituted:–
“18. CERTIFICATE OF SALE (in
respect of each property put up as a
separate lot and sold) granted to the
purchaser of any property sold by public
auction by a Civil or Revenue Court, or
Collector or other Revenue Officer
The same duty as on a
Conveyance (No.23), for
a consideration equal to
the amount of the
purchase money”;
(16) in Article 19, for the word “Two”, the word “Five” shall be substituted;
(17) in Article 20, for the word “Five”, the word “Ten” shall be substituted;
(18) in Article 22, for the word “Fifty”, the words “One hundred” shall be
substituted;
(19) after Article 22, the following new Article 22-A shall be added:–
“22-A. CONTRACT, that is to say any instrument of the nature of
memorandum of agreement mad e or entered into by a contractor with
Government, Corporation, Local Body, Local Authority, agency or
organisation 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 fifty thousand rupees
One hundred
rupees
(ii) where it exceeds fifty thousand rupees
but does not exceed five lac rupees
Two hundred
rupees
(iii) where it exceeds five lac rupees but
does not exceed fifteen lac rupees
Five hundred
rupees
(iv) where it exceeds fifteen lac rupees but
does not exceed twenty five lac rupees
Seven
hundred and
fifty rupees
(v) where it exceeds twenty five lac rupees One
thousand
rupees
(b) to procure stores and
materials
Twenty five paisa for every one hundred
rupees or part thereof of the amount of
the contract”;
(20) in Article 24, in sub -article (ii), for the word “Five”, the word “Ten” shall
be substituted;
(21) in Article 25, in sub -article (b), for the word “Five”, the word “Ten” shall
be substituted;
(22) in Article 26, in sub -article (b), for the word “Fifty”, the words “One
hundred” shall be substituted;
(23) in Article 27, for sub-article (b), the following shall be substituted:–
“(b) by delivery–
for every rupees five hundred or part thereof of the
face value of the debenture or participation term
certificate
Eighteen
rupees”;
(24) in Article 28, for the word “Two”, the word “Five” shall be substituted;
(25) in Article 29, for the word “Fifteen”, the word “Thirty” shall be
substituted;
(26) for Article 33, the following shall be substituted:–
“33. GIFT– Instrument of, including a memorandum of oral gift of
immovable property, not being a SETTLEMENT (No.58) or WILL OR
TRANSFER (No.62)–
(a) (i) when executed in
favour of legal heirs
in respect of
agricultural land
Two rupees for every one hundred
rupees or part thereof of the value
of the property as set forth in such
instrument
(ii) in any other case, in
respect of agricultural
land
Five rupees for every one hundred
rupees or part thereof of the value
of the property
(b) (i) when executed in
favour of legal heirs in
respect of immovable
property other than
agricultural land
Three rupees for every one hundred
rupees or part thereof of the value of
the property as notified by the District
Collector
(ii) when executed in
respect of immovable
property in an urban
area as defined under
Explanation-I in
Article 23
Seven rupees for every one hundred
rupees or part thereof of the value of
the property as notified by the
District Collector
(c) other property Six rupees for every one hundred
rupees or part thereof of the value
of the property”;
(27) in Article 37, for the words “Two rupees”, the following shall be
substituted:–
“Ten rupees plus five paisa per one hundred rupees subject to a
maximum of five hundred rupees”;
(28) in Article 38, for the word “Thirty”, the word “Fifty” shall be substituted;
(29) in Article 39, for sub -articles (a) and (b), the following shall be
substituted:–
“one hundred rupees plus one rupee per one hundred rupees or part
thereof subject to a maximum of five thousand rupees”
(30) in Article 41, for sub -articles (a) and (b), the following shall be
substituted:–
“(a) when the loan is repayable, not more than three months
from the date of the instrument, for every two hundred
rupees or part thereof of the sum secured
One
rupee
(b) when the loan is repayable more than three months, but
not more than eighteen months from the date of the
instrument, for every one hundred rupees or part
thereof of the sum secured
Two
rupees”;
(31) in Article 43–
(i) in sub -article (a), for the word “Two”, the word “Five” shall be
substituted;
(ii) in sub -article (b), for the word “Two”, the word “Five” shall be
substituted;
(iii) in sub -article (c), for the word “Forty”, the word “Fifty” shall be
substituted;
(32) in Article 45, for the words “The same duty as on a Bond (No.15)”, the
words “Three rupees for every one hundred rupees or part thereof”
shall be substituted;
(33) in Article 46, in Part A–
(i) in sub-article (a), for the word “Fifty”, the words “ One hundred”
shall be substituted;
(ii) in sub -article (b), for the words “Two hundred and fifty”, the
words “Five hundred” shall be substituted;
(34) in Article 48, for sub -articles (a) to (f), the following shall be
substituted:–
“(a) when executed for a uthorizing not
more than ten persons;
One hundred rupees
(b) when given for consideration and
authorizing the attorney to sell any
immovable property
The same duty as is
leviable on a conveyance
(No.23) for the amount of
the consideration
(c) in any other case Ten rupees for each
person authorized”
(35) in Article 49, for sub-article (a), the following shall be substituted:–
“(a) when payable on demand–
(i) when the amount or value does not
exceed Rs. 2,50000/-
Thirty rupees
(ii) when the amount or val ue exceeds
Rs.2,50000/- but does not exceed
Rs.5,00000/-
Sixty rupees
(iii) in any other case One hundred
rupees”
(36) in Article 50, for the word “Five”, the word “Ten” shall be substituted;
(37) in Article 51, for the word “Five”, the word “Ten” shall be substituted;
(38) in Article 52, for the word “Two”, the word “Five” shall be substituted;
(39) in Article 53, for sub -articles (a) to (d), the following shall be
substituted:–
“(a) where such amount does not exceed two thousand
rupees
One rupee
(b) where such amount exceeds two thousand rupees
but does not exceed ten thousand rupees
Two rupees
(c) where such amount exceeds ten thousand rupees Five
rupees”
(40) in Article 54–
(i) in sub -article (a), for the words “The same duty as on a Bond
(No.15) for the amount of such consideration as set forth in the
re-conveyance.”, the words “Thirty rupees” shall be substituted;
(ii) in sub-article (b), for the word “Fifty”, the words “One hundred”
shall be substituted;
(41) in Article 55, for the words “The same duty as on a Bond (No.15) ”, the
words “Four rupees for every one hundred rupees or part thereof” shall
be substituted;
(42) in Article 57–
(i) in sub -article (a), for the words “The same duty as on a Bond
(No.15) for the amount secured”, the words “Thirty rupees” shall
be substituted;
(ii) in sub-article (b), for the word “Fifty”, the words “One hundred”
shall be substituted;
(43) in Article 58, in Part A, in clause (i), for the words “One rupee”, the
words “Two rupees” shall be substituted;
(44) in Article 60, for the word “Two”, the word “Five” shall be substituted;
(45) in Article 61, in sub -article (b), for the word “Fifty”, the words “One
hundred” shall be substituted; and
(46) in Article 64, for the word “Fifty”, wherever occurring, the words “One
hundred” shall be substituted.
3. Amendment of Act XIV of 1973 .– In the Punjab Finance Act 1973 (XIV of
1973), in the Sixth Schedule, in column 3, against serial No.9, for the words and
figures “Rs.2.00 per maund” and “Rs. 4.00 per maund”, the words “paisa ei ght per
kg” and “paisa sixteen per kg”, shall respectively be substituted.
4. Amendment of Act XV of 1977 .– In the Punjab Finance Act, 1977 (XV of
1977), for the Second Schedule, the First Schedule to this Act shall be substituted.
5. Amendment of Ordinanc e XIII of 1978 .– In the Punjab Finance Ordinance,
1978 (XIII of 1978), in section 9, for the words “One and a half paisa”, the words
“paisa two” shall be substituted.
2
[6. Provincial Tax on Bank Cheques.– * * * * * * * * * *]
3
[7. Tax on Advertisements.– * * * * * * * * * * * ]
2Deleted by the Punjab Finance Ordinance, 2000 (III of 2000), w.e.f. 1.7.2000, s.10; and publ ished 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 Art icle 128 of the
Constitution of the Islamic Republic of Pakistan.
8. Punjab Education and Infrastructure Development Cess .– (1) There shall
be levied and collected a cess to be called the “Punjab Education and Infrastructure
Development Cess” at the rate of five percent of the octroi or export tax collected by
a local council established under any law relating to the local government for the
time being in force.
(2) The cess payable under this section shall be collected and paid to
Government by the local council concerned in such manner as may be prescribed.
(3) The Government shall apply the cess, collected under this section, for
development generally and for the development of education, in particular.
(4) The Government may make rules for carrying out the purposes of this
section.
3Deleted by the Punjab Finance Ordinance, 2000 (III of 2000), w.e.f. 1.7.2000, s.10; 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.
FIRST SCHEDULE
(see section 4)
“SECOND SCHEDULE
(see section 3 of the Punjab Finance Act, 1977)
Sr.
No.
Class of Persons Rate of
Tax per
annum
1 2 3
1. Companies registered under the Companies Ordinance, 1984 with
paid up capital– (Rupees)
(i) exceeding rupees one million but not exceeding rupees ten
million
2,000.00
(ii) exceeding rupees ten million but not exceeding rupees fifty
million
5,000.00
(iii) exceeding rupees fifty million 10,000.00
2. Persons other than Companies, owning Factories, as defined
under the Factories Act and having 10 or more employees.
1,000.00
3. Persons other than Companies, owning commercial
establishments having 10 or more employees.
1,000.00
4. Persons engaged in the Import or Export of goods who during the
preceding financial year have imp orted or exported goods of the
value–
(i) exceeding rupees one lac but not exceeding rupees one
million
1,000.00
(ii) exceeding rupees one million but not exceeding rupees five
million
2,000.00
(iii) exceeding rupees five million 5,000.00
5. Contractors who during the preceding financial year supplied to the
Federal or the Provincial Government or any Local Authority goods,
commodities and services of the value–
(i) exceeding rupees five lac but not exceeding rupees two and
a half million
1,000.00
(ii) exceeding rupees two and a half million but not exceeding
rupees ten million
2,000.00
(iii) exceeding rupees ten million but not exceeding rupees
twenty five million
5,000.00
(iv) exceeding rupees twenty five million 10,000.00
6. Persons who are engaged in a Profession, Trade, Calling or
Employment either wholly or partly within the province of Punjab
who were assessed to pay income tax during the preceding
financial year.
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Section 2(5)
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Article 14, for the words “One rupee”, the word “Ten rupees” shall be substituted; (13) for Article 15, the following shall be substituted:– “15.BOND as defined by section 2(5) not being a DEBENTURE (No.27) and not being otherwise provided for by this Act, or by the Court Fees Act, 1870– (i) where the amount or value secured does not exceed five hundred rupees Fifteen rup
Section 9
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nd Schedule, the First Schedule to this Act shall be substituted. 5. Amendment of Ordinanc e XIII of 1978 .– In the Punjab Finance Ordinance, 1978 (XIII of 1978), in section 9, for the words “One and a half paisa”, the words “paisa two” shall be substituted. 2 [6. Provincial Tax on Bank Cheques.– * * * * * * * * * *] 3 [7. Tax on Advertisements.– * * * * * * * * * * * ]
Section 4
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icle 4, notwithstanding the maximum limit of three months prescribed under Article 128 of the Constitution of the Islamic Republic of Pakistan. FIRST SCHEDULE (see section 4) “SECOND SCHEDULE (see section 3 of the Punjab Finance Act, 1977) Sr. No. Class of Persons Rate of Tax per annum 1 2 3 1. Companies registered under the Companies Ordinance, 1984 with paid up capital– (Rupees
Provisions explicitly cited in other instruments 2
Article 128 of Constitution of the Islamic Republic of Pakistan
Cited by PUNJAB FINANCE ACT, 1995
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l 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. FIRST SCHEDULE (see section 4) “SECOND SCHEDULE (see section 3 of the Punjab Finance Act, 1977) Sr. No. Class of Persons Rate of Tax per annum 1 2 3 1. Companies registered under the Companies Ordinance, 1
Target heading · Constitution of the Islamic Republic of Pakistan
128. Power of Governor to promulgate Ordinances .__ (1) The Governor may, except when the Provincial Assembly is in session, if satisfied that circumstances exist which render it necessary to take immediate action, make and promulgate an Ordinance as the circumstances may require. (2) An Ordinance promulgated un
Section 3 of PUNJAB FINANCE ACT 1977
Cited by PUNJAB FINANCE ACT, 1995
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imit of three months prescribed under Article 128 of the Constitution of the Islamic Republic of Pakistan. FIRST SCHEDULE (see section 4) “SECOND SCHEDULE (see section 3 of the Punjab Finance Act, 1977) Sr. No. Class of Persons Rate of Tax per annum 1 2 3 1. Companies registered under the Companies Ordinance, 1984 with paid up capital– (Rupees) (i) exceeding rupees one million but not exceeding rupees ten
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- 9760f27649777d5e0f8f806fb4260b3cf1f4a9ee74b636580bf69f8ec8c0d905
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