Updated: Sunday April 27, 2014/AlAhad
Jamada El Thaniah 27, 1435/Ravivara
Vaisakha 07, 1936, at 09:01:46 PM
The
(Pb. Act XIX of 2004)
C O N T E N T S
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 XXXII of 1958
6.
Amendment
of Act XIV of 1973
7.
Amendment of Act XV of 1977
(Pb. Act XIX of 2004)
[
An
Act to enhance, reduce and rationalize certain taxes,
fees
and duties in the Province of the
Preamble.–
Whereas it is expedient to
enhance, reduce and rationalize certain taxes, fees and duties in the Province
of the
It
is hereby enacted as follows:-
1. Short title, extent and commencement.– (1) This Act may be called the Punjab
Finance Act, 2004.
(2) It
shall extend to the whole of the
(3) It shall come into force on the first day of
July, 2004.
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) Article 10 shall be deleted;
(2) in Article 12, the words and brackets “Three
rupees for every one hundred rupees or part thereof for” shall be substituted
by the words “Two percent of”;
(3) in
Article 18, the words, brackets and comma “The same duty as on a Conveyance
(No.23), for a” shall be substituted by the words “Two percent of the”;
(4) in Article 23,---
(i) in clause (a), the words “four rupees for
every one hundred rupees or part thereof” shall be substituted by the words
“Two percent”;
(ii) in clause (b), the words “five rupees for every one hundred rupees
or part thereof” shall be substituted by the words “Two percent”; and
(iii) in clause (c), the words “four rupees for every one hundred rupees
or part thereof” shall be substituted by the words “Two percent”;
(5) in Article 31,---
(i) in sub-article (a), the words “Two rupees for
every one hundred rupees or part thereof” shall be substituted by the words
“Two percent”;
(ii) in sub-article (b), the words “Five rupees for every one hundred
rupees or part thereof” shall be substituted by the words “Two percent”; and
(iii) in sub-article (c), the words “Four rupees for every one hundred
rupees or part thereof” shall be substituted by the words “Two percent”;
(6) in Article 32,---
(i) in sub-article (a), the words and brackets
“The same duty as on a Conveyance (No.23) for a” shall be substituted by the
words “Two percent of the”; and
(ii) in
sub-article (b),---
(a) in clause (i), the
words and brackets “The same duty as on a Conveyance (No.23) for a” shall be
substituted by the words “Two percent of the”; and
(b) in clause (ii), the words and brackets “The
same duty as on a Bond (No.15) for” shall be substituted by the words “Two
percent of”;
(7) in Article 33, for sub-articles (a), (b)
and (c), the following shall be substituted:-
“(a) when executed in respect of agricultural land in rural areas; |
Two percent of the value of the land as set forth in such instrument. |
(b) when executed in respect of immovable property or agricultural
land in an urban area as defined under Explanation-I in Article 23; |
Two percent
of the value of the property or land as notified by the District Collector. |
(c) other property; |
Two percent
of the value of the property.”; |
(8) in Article 35,---
(i) in
sub-article (a),---
(a) in clauses (i) and
(ii), the words and brackets “The same duty as on a Bond (No.15) for” shall be
substituted by the words “Two percent of”; and
(b) in clauses (iii) to (v), the words and
brackets “The same duty as is leviable on a Debenture
[No.27 (b)] for a” shall be substituted by the words “Two percent of the”;
(ii) in
sub-article (b), in clauses (i) and (ii), the words
and brackets “The same duty as is leviable on a
Conveyance (No.23) for a”, shall be substituted by the words “Two percent of
the”; and
(iii) in sub-article (c), in clauses (i) and (ii), the words and brackets “The same duty as is leviable on a Conveyance (No.23) for a”, shall be
substituted by the words “Two percent of the”, and the words “four rupees”
occurring after the word “exceed” at the end shall be substituted by the words
“one hundred rupees”;
(9) Article 39 shall be deleted;
(10) in Article 40,---
(i) in sub-article (a), the words and brackets
“The same duty as on a Conveyance (No.23) for a” shall be substituted by the
words “Two percent of the”; and
(ii) in
sub-article (b), the words and brackets “The same duty as on a Bond (No.15)
for” shall be substituted by the words “Two percent of”;
(11) in Article 45,---
(i) for the words “Three rupees for every one
hundred rupees or part thereof for”, the words “Two percent of” shall be
substituted; and
(ii) in
clauses (a) and (c) of the proviso, for the words “four rupees” occurring at
the end shall be substituted by the words “one hundred rupees”;
(12) in
Article 48, in sub-article (b), the words and brackets “The same duty as is leviable on a Conveyance (No.23) for” shall be substituted
by the words “Two percent of”;
(13) in Article 55, the words “Four rupees for
every one hundred rupees or part thereof for” shall be substituted by the words
“Two percent of”;
(14) in Article 58,---
(i) in sub-article A,---
(a) in clause (i), the
words “Two rupees for every one hundred rupees or part thereof” shall be
substituted by the words “Two percent”;
(b) in clause (ii), the words and brackets “The
same duty as on a Bond (No.15) for a” shall be substituted by the words “Two
percent of the”; and
(c) in clause (iii), the words “The same duty as
is leviable on a Conveyance (No.23) for a” shall be
substituted by the words “Two percent of the”; and in the first proviso, after
the word “exceed” and before the colon at the end, the words “four rupees”
shall be substituted by the words “one hundred rupees”; and
(ii) in sub-article B, the words and brackets “The
same duty as is leviable on a Conveyance (No.23) for
a” shall be substituted by the words “Two percent of the” and the words “fifty
rupees” shall be substituted by the words “one hundred rupees”; and
(15) In
Article 63, the words and brackets “The same duty as is leviable
on Conveyance (No.23) for a” shall be substituted by the words “Two percent of
the”.
3. Amendment
of Act V of 1958.– In the Punjab Urban Immovable Property Tax Act, 1958 (V of
1958), in section 4,---
(i) the existing
clause (i) shall be re-lettered as clause (h); and
(ii) after clause (h), so re-lettered, the
following new clause (i) shall be added:-
“(i) one residential
house, measuring an area upto five marlas, used for residential purpose and situated in
localities assessed to categories D to G of valuation tables notified under
section 5-A of this Act.”
4. Amendment
of Act X of 1958.– In the
(i) in section 3, in
sub-section (1), in the second proviso, after the word “Provided”, the word
“further” shall be inserted; and
(ii) in section 3-A, in the table, after serial
No.2, the following provision shall be added in column Nos. 1 to 3
respectively:-
“3. Circus thirty
percent of the payment for admission; provided that the Government may, by
notification, require the proprietor of the circus to pay the duty on annual
fixation basis, on such terms and conditions as may be determined by the
Government.”.
5. Amendment
of Act XXXII of 1958.– In
the Punjab Motor Vehicles Taxation Act, 1958 (XXXII of 1958), in the Schedule,
in serial number 1, in clauses (a), (b) and (c), for the figures “1000/-”,
“1000/-” and “1200/-”, the figures “1200/-”, “1200/-” and “1500/-” shall
respectively be substituted.
6. Amendment
of Act XIV of 1973.– In the
(i) in serial number
1, in column 3, for the figures “150” in sub-serial (iv), “150” in sub-serial
(vii) and “200” in sub-serial (viii), the figures “160”, “160” and “210” shall
respectively be substituted;
(ii) in serial number
6, in column 3, for the figure “100.00”, the figure “500.00” shall be
substituted;
(iii) in serial number
7, in sub-serial number (a), in column 3, for the figure “200.00”, the figure
“1000.00” shall be substituted;
(iv) in serial number 8,
in sub-serial number (a), in column 3, for the figure “200.00”, the figure
“1000.00” shall be substituted;
(v) in
serial number 10,---
(a) in clause (a), in column 3, the figure “100.00” shall be substituted
by the figure “150.00”; and
(b) clause (c) shall be substituted by the following:-
“(c) |
Any other vehicle,--- |
|
|
|
(i) |
with engine capacity upto 1000cc |
Rs. 1,200.00 |
|
(ii) |
with engine capacity
exceeding 1000cc but not exceeding 1800cc |
Rs. 2,000.00 |
|
(iii) |
with engine capacity
exceeding 1800cc |
Rs. 3,000.00”; |
(vi) for
serial number 12 and the entries against it, the following shall be
substituted:-
“12. Fee for endorsement of Hire Purchase Agreement
of a vehicle under sub-rule (6) of rule 46 shall be charged at the following
rates,---
(a) |
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; |
Rs.150.00 |
|
(b) |
a heavy transport
vehicle; |
Rs.4,000.00 |
|
(c) |
any other vehicle– |
|
|
|
(i) |
with engine capacity upto 1000cc |
Rs.1,200.00 |
|
(ii) |
with engine capacity
exceeding 1000cc but not exceeding 1800cc |
Rs.2,000.00 |
|
(iii) |
with engine capacity
exceeding 1800cc |
Rs.3,000.00”; |
(vii) after
serial number 12, the following new serial number 13 shall be added:-
“13. Fee for assignment of fresh registration mark
to a vehicle under section 30 of the Provincial Motor Vehicles Ordinance, 1965
and under sub-rule (1) of rule 48 shall be charged at the following rates,---
(a) |
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; |
Rs.150.00 |
||
(b) |
a heavy transport
vehicle; |
Rs.4,000.00 |
||
(c) |
any other vehicle- |
|
||
|
(i) |
with engine capacity upto 1000cc |
Rs.1,200.00 |
|
|
(ii) |
with engine capacity
exceeding 1000cc but not exceeding 1800cc |
Rs.2,000.00 |
|
|
(iii) |
with
engine capacity exceeding 1800cc |
Rs.3,000.00. and” |
|
(viii) after
serial number 13, the following new serial number 14 shall be added:-
“14. Fee for alteration in a motor vehicle under
sub-rule (2) of rule 49 shall be charged at the following rates:-
(i) transport vehicles Rs. 3000.00
(ii) other vehicles Rs. 1500.00.”.
7. Amendment of Act XV of 1977.– In
the
(i) in serial
number 5,---
(a) the existing sub-serial numbers (i), (ii) and (iii) shall respectively be renumbered as
(ii), (iii) and (iv);
(b) before sub-serial number (ii), so renumbered,
the following new sub-serial number (i) shall be
inserted:---
“(i) not exceeding rupees 1 million 500/-;”;
(ii) in serial number 6,---
(a) for sub-serial numbers (i)
and (ii) and the entries in column 3, the following shall be substituted:-
“(i) Medical
consultants or specialists/
dental
surgeons 1,000/-
(ii) Registered medical practitioners 1,000/-.”; and
(b) after
clause (x), a new clause (xi) shall be added, namely:-
“(xi) Tobacco vendors,---
wholesalers 2,000/-.”.
[1][1]This Act was passed by the
Punjab Assembly on
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