The Punjab Finance Act, 1987 (Punjab Act No. II of 1987)

Updated: Saturday April 26, 2014/AsSabt Jamada El Thaniah 26, 1435/Sanivara Vaisakha 06, 1936, at 08:23:02 PM

The Punjab Finance Act, 1987

(Pb. Act II of 1987)

C O N T E N T S

Sections

1. Short title, extent and commencement.

2. Amendment of the Punjab Motor Vehicles Taxation Act, 1958 (W.P. Act No.XXXII of 1958).

[1][1]The Punjab Finance Act, 1987

(Pb. Act II of 1987)

[29 June 1987]

An Act to enhance the rate of tax on certain categories of motor vehicles in the Province of the Punjab

Preamble.— Whereas it is expedient to enhance the rate of tax on certain categories of motor vehicles in the Province of the Punjab;

It is hereby enacted as follows:---

2. Short title, extent and commencement.— (1) This Act may be called the Punjab Finance Act, 1987.

(2) It shall extend to the whole of the Province of the Punjab.

(3) It shall come into force on and from the first day of July, 1987.

2. Amendment of the Punjab Motor Vehicles Taxation Act, 1958 (W.P. Act No.XXXII of 1958).— In the Punjab Motor Vehicles Taxation Act, 1958 (W.P. Act XXXII of 1958), in the Schedule, for the entries against Serial No.4, the following shall be substituted,---

“4. Motor Vehicles other than those mentioned above and having,---

(a) seating capacity of not more than 3 persons	132.00
(b) seating capacity of more than 3 persons but not more than 6 persons—
(i) with engine power not exceeding 1000 cc.	384.00
(ii) with engine power exceeding 1000 cc but not exceeding 1300 cc	500.00
(iii) with engine power exceeding 1300 cc	1000.00
(c) seating capacity of more than 6 persons	150.00 per seat

Note: Station-wagons used for private purposes shall be taxed under Serial No.4”.

[1][1]This Act was passed by the Punjab Assembly on 28th June, 1987; assented to by the Governor of the Punjab on 29th June, 1987; and, was published in the Punjab Gazette (Extraordinary), dated 29th June, 1987, Pages 2413-A to 2413-B.