PUNJAB FINANCE ACT, 2009
(Act III of 2009)
Short title, extent and commencement.
Amendment in Act II of 1899.
Amendment in Act I of 1993.
PUNJAB FINANCE ACT 2009
[29 June 2009]
to levy tax and alter
the rates of tax and duties in the Punjab.
Whereas it is expedient to levy tax and alter the rates
of tax and duties in the Punjab and other
It is enacted as
1. Short title, extent
and commencement.– (1) This Act may be cited
as the Punjab Finance Act 2009.
(2) It shall extend
to the whole of the Punjab.
(3) It shall come
into force on the first day of July 2009.
2. Amendment in Act II
of 1899.– In the Stamp Act 1899 (II of 1899),
in the Schedule I, in Article 63-A, the explanation shall be substituted by
“Explanation.– Transfer of the right or interest
under this Article does not include original allotment from a development
authority, housing authority, statutory body, cooperative housing society or
company; and transfer through inheritance.”
3. Amendment in Act I of 1993.– In the Punjab
Undesirable Cooperative Societies (Dissolution) Act 1993 (I of 1993), in
section 7, after clause (ta), the following clause (tb) shall be inserted:
“(tb) create a fund
for social sector development in the Punjab
with surplus assets if any;”