Punjab Finance Act, 2014

From: 2014-06-30 - To: 0000-00-00 An Act to levy, alter and rationalize certain taxes, fees and duties in the Punjab. Whereas it is expedient to levy, alter and rationalize certain taxes, fees and duties in the Punjab; and to regulate the connected matters; It is enacted as follows: 1. Short title, extent and commencement.– (1) This Act may be cited as the Punjab Finance Act 2014. (2) It extends to whole of the Punjab. (3) It shall come into force on the first day of July 2014 except the provisions of clauses (a) and (b) of section 3 which shall come into force on such date as the Government may, by notification, specify. 2. Amendment in Act II of 1899.– In the Stamp Act, 1899 (II of 1899), in Schedule I, the following amendments shall be made: (a) at Sr. No. 4, for the words “Twenty rupees”, the words “Fifty rupees” shall be substituted; (b) at Sr. No. 5, against clause (cc), for the words “One hundred rupees”, the words “Twelve hundred rupees” shall be substituted; (c) at Sr. No. 12, for the words “Two percent”, the words “Three percent” shall be substituted; (d) at Sr. No. 17, for the words “Fifty rupees”, the words “One hundred rupees” shall be substituted; (e) at Sr. No. 18, for the words “Two percent”, the words “Three percent” shall be substituted; (f) at Sr. No. 22-A, in clause (a): (i) in sub-clause (i), for the words “One hundred rupees”, the words “Two hundred rupees” shall be substituted; (ii) in sub-clause (ii), for the words “Two hundred rupees”, the words “Five hundred rupees” shall be substituted; (iii) in sub-clause (iii), for the words “Five hundred rupees”, the words “One thousand rupees” shall be substituted; (iv) in sub-clause (iv), for the words “Seven hundred and fifty rupees”, the words “Fifteen hundred rupees” shall be substituted; and (v) in sub-clause (v), for the words “One thousand rupees”, the words “Two thousand rupees” shall be substituted; (g) at Sr. No. 23, in clause (a), for the words “Two percent”, the words “Three percent” shall be substituted; (h) at Sr. No. 27-A, for the words “Two percent”, the words “Three percent” shall be substituted; (i) at Sr. No. 29, for the words “Thirty rupees”, the words “One hundred rupees”…