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Pakistan (Punjab) Legislation |
THE PUNJAB FINANCE ACT, 1997
(Pb. Act IX of 1997)
C O N T E N T S
Sections
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 [Repealed].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 [Repealed].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 [Repealed].
[1]THE PUNJAB FINANCE ACT 1997
(Pb. Act IX of 1997)
[30 June 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 be added:-
|
"12-A. |
BILLS ISSUED BY LUXURY HOTELS AND RESTAURANTS 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. |
Ten
rupees for every one hundred rupees 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:-
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|
|
Rupees |
||
|
"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. |
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. |
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. |
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; |
100.00 |
|
|
ii) |
a
heavy transport vehicle; and |
2,000.00 |
|
|
iii) |
any
other vehicle. |
1,000.00." |
|
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
registered under the Companies Ordinance 1984 |
1%
of the net income tax payable subject to a minimum of Rs.200/-" |
7. [2][* * * * * * * * * * * * *]
8. [3][* * * * * * * * * * * * *]
9. [4][* * * * * * * * * * * * *]
[1]This 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.
[2]Deleted by the Punjab Finance
Ordinance, 2000 (III of 2000), 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.
[3]Ibid.
[4]Ibid.
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