But in 2004, the Gift Tax Act was again renewed partially, and a new provision was inaugurated in the Income Tax Act 1961 under Section 56 (2). According to Gift Tax Act, 1961 the gifts received by any individual or HUF more than ₹ 50,000 (US$700) in a year would be taxable. There were certain exemptions that were allowed under the Gift Tax. In case of the exchange of gifts between blood relatives, irrespective of the value of the gift, Gift Tax was not applicable. THE PUNJAB URBAN IMMOVABLE PROPERTY TAX ACT, 1958 CONTENTS 1. Short title and extent 2. Definitions 3. Levy of tax 3-A. Share of local bodies in the tax 3-B. Levy of tax in cantonment area 4. Exemptions 5. Ascertainment of annual value 5-A. Valuation tables to ascertain annual value 6. Assessing authority 7. Making and operating of valuation.
C O N T E N T S Section Heading 1. Short title and extent. Share of local bodies in the tax. Levy of tax in cantonment area. Ascertainment of annual value.
Valuation tables to ascertain annual value. Assessing authority. Making and operating of valuation lists. Draft valuation list.
Amendment of current valuation list. Appeal and revision. Tax to be levied notwithstanding appeal. Payment of Tax and late payment surcharge. Collection of tax. Recovery of tax from tenants. Penalty for default in payment.
Recovery of unpaid dues. Registering authority to ensure payment of tax. Remuneration of local authority. Powers of assessing authority to require returns for valuation list. Powers of assessing authority to require returns at any time 20. Valuation list not to be rendered invalid by certain failures or omissions. Assessing authorities, officers and servants to be deemed public servants.
Exclusion of jurisdiction of Civil Courts. Power to make rules. Repeal and Saving. THE PUNJAB URBAN IMMOVABLE PROPERTY TAX ACT, 1958 (V of 1958) 10 April 1958 An Act to consolidate the law relating to the levy of a tax on urban immovable property in the Province of the Punjab ; Preamble.– WHEREAS it is expedient to consolidate the law relating to the levy of a tax on urban immovable property in the Province of the Punjab; It is hereby enacted as follows:- 1. Short title and extent.– (1) This Act may be called the Punjab Urban Immovable Property Tax Act, 1958. (2) It extends to the whole of the Punjab, except the Tribal Areas.
2.
Last Updated: Monday August 11, 2008 PRESIDENT'S ORDER 13 OF 1979 Cantonments’ (Urban Immovable Property Tax and Entertainments Duty) Order, 1979 Gazette of Pakistan, Extraordinary Part I, 22nd August, 1979 No. 17 (2) 79-Pub.-The following Order made by the President on the 15th August, 1979 is hereby published for general information:- In pursuance of the Proclamation of the fifth day of July 1977 read with the Laws (Continuance in Force) Order, 1977 (C. 1 of 1977), and in exercise of all powers enabling him m that behalf, the President is pleased to make the following Order:- 1. Short title, extent and commencement.-(1) This Order may be called the Cantonments (Urban Immovable Property Tax and Entertainments Duty) Order, 1979. (2) It extends to all cantonments in Pakistan. (3) It shall come into force at once and shall be deemed to have taken effect on the thirtieth day of November, 1977.
Order to override other laws.-This Order shall have effect notwithstanding anything contained in the Constitution or any other law for the time being in force. Urban Immovable property tax to cease to be leviable in cantonments. (1) As from the commencement of this Order,- (a) the tax leviable under the West Pakistan Urban Immovable Property Tax Act, 1958 (W.
V of 1958), shall cease to be leviable in a cantonment; and (b) the Cantonment Board of a cantonment shall continue to levy and collect, in accordance with the provisions of the Cantonments Act, 1924 (II of 1924), the tax assessed on the annual value of buildings and lands. (2) Eighty-five percent of the net proceeds of the tax referred to in paragraph (a) of clause (1), collected on or after the commencement of this Order, shall be paid by the Provincial Government to the Cantonment Board concerned.
(2) Fifteen percent of the net proceeds of the tax referred to in paragraph (b) of clause (1), collected on or after commencement of this Order, shall be paid by the Cantonment Board concerned to the Provincial Government. Entertainments duty to cease to be levied by Provincial Government in cantonments.-(1) As from the commencement of this Order (a) the duty leviable under the West Pakistan Entertainments Duty Act, 1958 (W. X of 1958), shall cease to be levied or collected by the Provincial Government on payments made for admission to an exhibition of a cinematograph film within a cantonment; and (b) the aforesaid duty shall be payable to, and be collected by, the Cantonment Board of the cantonment at the rates, and in the manner, for the time being prevailing in the Province.
(2) Eighty-five per cent of the net proceeds of the duty referred to in clause (1), collected on or after the commencement of this Order, shall be paid by the Provincial Government to the Cantonment Board concerned. (3) The amounts lying in deposit with, and the standing securities pledged to, the Provincial Government under the orders of a civil Court, in respect of a cinema house within a cantonment shall be transferred to the Cantonment Board concerned.
(4) The Cantonment Board of a cantonment shall continue to levy and collect the tax on cinema houses levied and collected by it under the Cantonments Act, 1924 (II of 1924): Provided that the Cantonment Board shall take early steps to merge the duty referred to in clause (1) and the tax referred to in this clause into a single tax under the said Act. Licences under Act II of 1918 in cantonments.-The Cantonment Board of a cantonment shall be the authority competent to grant licences under the Cinematograph Act, 1918 (II of 1918), in the cantonment and, in respect of a cantonment, the said Act shall have effect as if the reference therein to 'Provincial Government' were a reference to 'Federal Government': Provided that the rules made under the said Act and in force in a cantonment immediately before the commencement of this Order shall continue to be in force until repealed, modified or amended by the Federal Government.