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  "title": "PUNJAB FINANCE ACT, 2004",
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  "text": "THE PUNJAB FINANCE ACT, 2004 \r\n(XIX of 2004) \r\nCONTENTS \r\n1. Short title, extent and commencement \r\n2. Amendment of Act II of 1899 \r\n3. Amendment of Act V of 1958 \r\n4. Amendment of Act X of 1958 \r\n5. Amendment of Act XXXII of 1958 \r\n6. Amendment of Act XIV of 1973 \r\n7. Amendment of Act XV of 1977 \r\n \r\n \r\nTEXT \r\n1\r\nTHE PUNJAB FINANCE ACT, 2004 \r\n(XIX of 2004) \r\n[30th June, 2004] \r\nAn \r\nAct \r\nto enhance, reduce and rationalize certain taxes, fees and duties in the Province of \r\nthe Punjab. \r\nPreamble.– Whereas it is expedient to enhance, reduce and rationalize certain \r\ntaxes, fees and duties in the Province of the Punjab; \r\n It is hereby enacted as follows:– \r\n1. Short title, extent and commencement. – (1) This Act may be called the \r\nPunjab Finance Act, 2004. \r\n(2) It shall extend to the whole of the Punjab. \r\n(3) It shall come into force on the first day of July, 2004. \r\n2. Amendment of Act II of 1899. – In the S tamp Act, 1899 (II of 1899), in \r\nSchedule-I, the following amendments shall be made, namely – \r\n(1) Article 10 shall be deleted; \r\n(2) in Article 12, the words and brackets “Three rupees for every one \r\nhundred rupees or part thereof for” shall be substituted by the words \r\n“Two percent of”; \r\n(3) in Article 18, the words, brackets and comma “The same duty as on a \r\nConveyance (No.23), for a” shall be substituted by the words “Two \r\npercent of the”; \r\n(4) in Article 23,– \r\n(i) in clause (a), the words “four rupees for every o ne hundred \r\nrupees or part thereof” shall be substituted by the words “Two \r\npercent”; \r\n(ii) in clause (b), the words “five rupees for every one hundred \r\nrupees or part thereof” shall be substituted by the words “Two \r\npercent”; and \r\n(iii) in clause (c), the words  “four rupees for every one hundred \r\nrupees or part thereof” shall be substituted by the words “Two \r\npercent”; \r\n(5) in Article 31,– \r\n                                                           \r\n1This Act was passed by the Punjab Assembly on 28 June 2004; assented to by the Governor of the Punjab on 30 June 2004; \r\nand, was published in the Punjab Gazette (Extraordinary), dated 30 June 2004, pages 1989-1992. \r\n(i) in sub-article (a), the words “Two rupees for every one hundred \r\nrupees or part thereof” shall be substituted by the words “ Two \r\npercent”; \r\n(ii) in sub-article (b), the words “Five rupees for every one hundred \r\nrupees or part thereof” shall be substituted by the words “Two \r\npercent”; and \r\n(iii) in sub-article (c), the words “Four rupees for every one hundred \r\nrupees or part thereof” shall be substituted by the words “Two \r\npercent”; \r\n(6) in Article 32,– \r\n(i) in sub-article (a), the words and brackets “The same duty as on a \r\nConveyance (No.23) for a” shall be substituted by the words “Two \r\npercent of the”; and \r\n(ii) in sub-article (b),– \r\n(a) in clause (i), the words and brackets “The same duty as \r\non a Conveyance (No.23) for a” shall be substituted by \r\nthe words “Two percent of the”; and \r\n(b) in clause (ii), the words and brackets “The same duty as \r\non a Bond (No.15) for” shall be substituted by th e words \r\n“Two percent of”; \r\n(7) in Article 33, for sub -articles (a), (b) and (c), the following shall be \r\nsubstituted:- \r\n“(a) when executed in \r\nrespect of agricultural \r\nland in rural areas;  \r\nTwo percent of the value of the land \r\nas set forth in such instrument. \r\n(b) when executed in \r\nrespect of immovable \r\nproperty or agricultural \r\nland in an urban area as \r\ndefined under \r\nExplanation-I in Article \r\n23; \r\nTwo percent of the value of the \r\nproperty or land as notified by \r\nthe District Collector. \r\n(c) other property;  Two percent  of the value of the \r\nproperty.”; \r\n(8) in Article 35,– \r\n(i) in sub-article (a),– \r\n(a) in clauses (i) and (ii), the words and brackets “The same \r\nduty as on a Bond (No.15) for” shall be substituted by the \r\nwords “Two percent of”; and \r\n(b) in clauses (iii) to (v),  the words and brackets “The same \r\nduty as is leviable on a Debenture [No.27 (b)] for a” shall \r\nbe substituted by the words “Two percent of the”; \r\n(ii) in sub-article (b), in clauses (i) and (ii), the words and brackets \r\n“The same duty as is leviable on a Conv eyance (No.23) for a”, \r\nshall be substituted by the words “Two percent of the”; and \r\n(iii) in sub-article (c), in clauses (i) and (ii), the words and brackets \r\n“The same duty as is leviable on a Conveyance (No.23) for a”, \r\nshall be substituted by the words “Tw o percent of the”, and the \r\nwords “four rupees” occurring after the word “exceed” at the end \r\nshall be substituted by the words “one hundred rupees”; \r\n(9) Article 39 shall be deleted; \r\n(10) in Article 40,– \r\n(i) in sub-article (a), the words and brackets “The same duty as on a \r\nConveyance (No.23) for a” shall be substituted by the words “Two \r\npercent of the”; and \r\n(ii) in sub-article (b), the words and brackets “The same duty as on \r\na Bond (No.15) for” shall be substituted by the words “Two \r\npercent of”; \r\n(11) in Article 45,– \r\n(i) for the words “Three rupees for every one hundred rupees or \r\npart thereof for”, the words “Two percent of” shall be substituted; \r\nand \r\n(ii) in clauses (a) and (c) of the proviso, for the words “four rupees” \r\noccurring at the end shall be substitute d by the words “one \r\nhundred rupees”; \r\n(12) in Article 48, in sub-article (b), the words and brackets “The same duty as \r\nis leviable on a Conveyance (No.23) for” shall be substituted by the words \r\n“Two percent of”; \r\n(13) in Article 55, the words “Four rupees fo r every one hundred rupees or \r\npart thereof for” shall be substituted by the words “Two percent of”;  \r\n(14) in Article 58,– \r\n  (i) in sub-article A,– \r\n(a) in clause (i), the words “Two rupees for every one \r\nhundred rupees or part thereof” shall be substituted b y \r\nthe words “Two percent”; \r\n(b) in clause (ii), the words and brackets “The same duty as \r\non a Bond (No.15) for a” shall be substituted by the words \r\n“Two percent of the”; and \r\n(c) in clause (iii), the words “The same duty as is leviable on a \r\nConveyance (No.23) for a” shall be substituted by the words \r\n“Two percent of the”; and in the first proviso, after the word \r\n“exceed” and before the colon at the end, the words “four \r\nrupees” shall be substituted by the words “one hundred \r\nrupees”; and \r\n(ii) in sub -article B, t he words and brackets “The same duty as is \r\nleviable on a Conveyance (No.23) for a” shall be substituted by \r\nthe words “Two percent of the” and the words “fifty rupees” shall \r\nbe substituted by the words “one hundred rupees”; and \r\n(15) In Article 63, the words  and brackets “The same duty as is leviable on \r\nConveyance (No.23) for a” shall be substituted by the words “Two \r\npercent of the”. \r\n3. Amendment of Act V of 1958. – In the Punjab Urban Immovable Property \r\nTax Act, 1958 (V of 1958), in section 4,– \r\n(i) the existing clause (i) shall be re-lettered as clause (h); and \r\n(ii) after clause (h), so re -lettered, the following new clause (i) shall be \r\nadded:- \r\n“(i) one residential house, measuring an area upto five marlas, used \r\nfor residential purpose and situated in localiti es assessed to \r\ncategories D to G of valuation tables notified under section 5 -A \r\nof this Act.” \r\n4. Amendment of Act X of 1958.– In the Punjab Entertainments Duty Act, 1958 \r\n(X of 1958),– \r\n(i) in section 3, in sub -section (1), in the second proviso, after the w ord \r\n“Provided”, the word “further” shall be inserted; and \r\n(ii) in section 3 -A, in the table, after serial No.2, the following provision \r\nshall be added in column Nos. 1 to 3 respectively:- \r\n“3. Circus  thirty percent of the payment for admission; provided that \r\nthe Government may, by notification, require the proprietor of \r\nthe circus to pay the duty on annual fixation basis, on such \r\nterms and conditions as may be determined by the \r\nGovernment.”. \r\n5. Amendment of Act XXXII of 1958. – In the Punjab Motor Vehicles T axation \r\nAct, 1958 (XXXII of 1958), in the Schedule, in serial number 1, in clauses (a), (b) and \r\n(c), for the figures “1000/ -”, “1000/-” and “1200/ -”, the figures “1200/ -”, “1200/-” and \r\n“1500/-” shall respectively be substituted. \r\n6. Amendment of Act XIV of 1973.– In the Punjab Finance Act, 1973 (XIV of \r\n1973), in the Second Schedule,– \r\n(i) in serial number 1, in column 3, for the figures “150” in sub-serial (iv), “150” \r\nin sub-serial (vii) and “200” in sub-serial (viii), the figures “160”, “160” and \r\n“210” shall respectively be substituted; \r\n(ii) in serial number 6, in column 3, for the figure “100.00”, the figure \r\n“500.00” shall be substituted; \r\n(iii) in serial number 7, in sub -serial number (a), in column 3, for the figure \r\n“200.00”, the figure “1000.00” shall be substituted; \r\n(iv) in serial number 8, in sub -serial number (a), in column 3, for the figure \r\n“200.00”, the figure “1000.00” shall be substituted; \r\n(v) in serial number 10,– \r\n(a) in clause (a), in column 3, the figure “100.00” shall be \r\nsubstituted by the figure “150.00”; and \r\n(b) clause (c) shall be substituted by the following:- \r\n“(c) Any other vehicle–  \r\n (i) with engine capacity upto 1000cc Rs. 1,200.00 \r\n (ii) with engine capacity exceeding 1000cc \r\nbut not exceeding 1800cc \r\nRs. 2,000.00 \r\n (iii) with engine capacity exceeding 1800cc Rs. 3,000.00”; \r\n(vi) for serial number 12 and the entries against it, the following shall be \r\nsubstituted:- \r\n“12. Fee for endorsement of Hire Purchase Agreement of a vehicle \r\nunder sub-rule (6) of rule 46 shall be charged at the following \r\nrates– \r\n(a) a motorcycle, a scooter and an invalid carriage or a \r\ntrailer not having more than two wheels and not \r\nweighing more than one ton in unladen weight; \r\nRs.150.00 \r\n(b) a heavy transport vehicle; Rs.4,000.00 \r\n(c) any other vehicle–  \r\n (i) with engine capacity upto 1000cc Rs.1,200.00 \r\n (ii) with engine capacity exceeding 1000cc but \r\nnot exceeding 1800cc \r\nRs.2,000.00 \r\n (iii) with engine capacity exceeding 1800cc Rs.3,000.00”; \r\n(vii) after serial number 12, the following new serial number 13 shall be \r\nadded:- \r\n“13. Fee for assignment of fresh registration mark to a vehicle under \r\nsection 30 of the Provincial Motor Vehicles Ordinance, 1965 and \r\nunder sub -rule (1) of rule 48 shall be charged at the following \r\nrates– \r\n(a) a motorcycle, a scooter and an invalid carriage or a \r\ntrailer not having more than two wheels and not \r\nweighing more than one ton in unladen weight; \r\nRs.150.00 \r\n(b) a heavy transport vehicle; Rs.4,000.00 \r\n(c) any other vehicle-  \r\n (i) with engine capacity upto 1000cc Rs.1,200.00 \r\n (ii) with engine capaci ty exceeding 1000cc but \r\nnot exceeding 1800cc \r\nRs.2,000.00 \r\n (iii) with engine capacity exceeding 1800cc Rs.3,000.00. \r\nand” \r\n(viii) after serial number 13, the following new serial number 14 shall be \r\nadded:- \r\n14. Fee for alteration in a motor vehicle under sub -rule (2) of rule 49 \r\nshall be charged at the following rates:- \r\n(i) transport vehicles Rs. 3000.00 \r\n(ii) other vehicles Rs. 1500.00.”. \r\n7. Amendment of Act XV of 1977. – In the Punjab Finance Act, 1977 (XV of \r\n1977), in the Second Schedule,– \r\n(i) in serial number 5,– \r\n(a) the existing sub-serial numbers (i), (ii) and (iii) shall respectively \r\nbe renumbered as (ii), (iii) and (iv); \r\n(b) before sub-serial number (ii), so renumbered, the following new \r\nsub-serial number (i) shall be inserted:- \r\n“(i) not exceeding rupees 1 million 500/-;”; \r\n(ii) in serial number 6,– \r\n(a) for sub -serial numbers (i) and (ii) and the entries in column 3, \r\nthe following shall be substituted:- \r\n“(i) Medical consultants or specialists/  dental surgeons\r\n 1,000/- \r\n(ii) Registered medical practitioners\r\n 1,000/-.”; and \r\n(b) after clause (x), a new clause (xi) shall be added, namely:- \r\n“(xi) Tobacco vendors –wholesalers\r\n 2,000/-.”.",
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