Punjab Finance Act, 2011

From: 2011-06-30 - To: 0000-00-00 An Act to levy tax and alter the rate of certain taxes and duties in the Punjab. Preamble.– Whereas, it is expedient to levy tax and alter the rate of certain taxes and duties in the Punjab and other connected matters; It is enacted as follows:- 1. Short title, extent and commencement.– (1) This Act may be cited as the Punjab Finance Act 2011. (2) It extends to whole of the Punjab. (3) It shall come into force on the first day of July 2011. 2. Amendment in Act X of 1958.– In the Punjab Entertainment Duty Act, 1958 (X of 1958)– (a) in section 3, in sub-section (1), for the words “sixty-five”, the word “twenty” shall be substituted; and (b) for section 3-A, the following shall be substituted:- “3-A. Duty on special classes of entertainments.– Notwithstanding anything contained in section 3, the duty on the entertainments mentioned in column No.2 of the following Table shall be charged at the rate mentioned against each entertainment in column No.3: Sr. No. Entertainment Rate of Duty 1. Admission to horse racing Two hundred percent of the payment for admission or two hundred rupees per admission ticket, whichever is higher. 2. Circus Twenty 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 the Government may determine. 3. Fashion show or musical show Sixty-five percent of the payment for admission or sixty five percent of the total amount paid to the owner or management of the premises or total expenditure made by organizer or sponsor, whichever is higher; provided that no exemption in entertainment duty shall be allowed to any of these entertainments under this Act.” 3. Amendment in Act XXXII of 1958.– In the Punjab Motor Vehicles Taxation Act, 1958 (XXXII of 1958)– (a) in section 2– (i) in clause (g), the word “and”, occurring at the end, shall be omitted; (ii) in clause (h), for the full stop at the end, a semi-colon shall be substituted and, thereafter, the word “and” shall be inserted; and (iii) after clause (h), the following clause (i) shall be inserted:- “(i) “Schedule” means…