2. Amendment of
sections 3 and 4 of Act XXXII of 1958.
3. Amendment in
section 4 of Act XIV of 1973.
4. Repeal of Federal
Act XIV of 1963.
FINANCE ACT 1985
(Pb. Act I of 1985)
An Act to make certain provisions in relation
to taxation in the Province of the Punjab
Whereas it is expedient to make certain provisions in relation to taxation
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 1985.
(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 1985.
2. Amendment of sections 3 and 4 of Act
XXXII of 1958.— In the Punjab Motor Vehicles
Taxation Act, 1958 (XXXII of 1958):-
(a) In section 3, in sub-section (1)—
the first proviso after the word “Schedule” and before the colon, the
following words shall be added:-
direct that subject to such conditions as may be prescribed, the tax shall
be leviable on annual basis”;
the second proviso, the following new proviso shall be added:-
“Provided further that
if so opted by a tax payer, the tax in respect of
a motor vehicle may be levied once for all at such rate as may be prescribed
and if the tax is so paid such motor vehicle shall forever cease to be
liable to the payment of tax under this Act.”
section 4, in sub-section (2), after the word “April” and before the colon,
the following words shall be added:-
lumpsum for a financial year, before the first day of October and if once
for all, at the time of initial registration”;
section 8, after sub-section (1), the following new sub-section shall be
provisions of sub-section (1) shall apply mutatis mutandis in the
case of vehicles liable to pay the tax annually.”
section 13, after sub-section (2), the following shall be added:-
“(2-A) Whoever becomes liable to
pay the tax annually but proves to the satisfaction of the licensing officer
that he has not used or permitted the use of the motor vehicle for at least
three months, shall be entitled to receive an order in writing from the
licensing officer exempting him from liability to pay the tax for that
period proportionately and the licensing officer shall make an endorsement
to that effect upon the licence.”
3. Amendment in section 4 of Act XIV of
1973.— In the Punjab Finance Act 1973 (XIV of
1973), in section 4, in sub-section (1), clause (iii) shall be omitted.
4. Repeal of Federal Act XIV of 1963.—
The Gift Tax Act 1963 (Federal Act XIV of 1963), is hereby repealed.
Act was passed by the Punjab Assembly on 12th June, 1985assented to by the Governor of the Punjab
on 12th June, 1985;
and, published in the Punjab Gazette (Extraordinary), dated 12th June, 1985
Be a part of Pakistan Legal Awareness team to spread legal awareness, if you are a Pakistani citizen register your self as our “Member” or if you are lawyer then register as a “Lawyer” and help us spread awareness.Join