Punjab Finance Act, 2004

From: 2004-06-30 - To: 0000-00-00 An Act to enhance, reduce and rationalize certain taxes, fees and duties in the Province of the Punjab. Preamble.– Whereas it is expedient to enhance, reduce and rationalize certain taxes, fees and duties in the Province of the Punjab; 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 Punjab. (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…