THE PUNJAB LOCAL GOVERNMENTS
(TAX ON TRANSFER OF IMMOVABLE PROPERTY) RULES, 2001
[SOV (LG) 5-20/2001]
[20th September
2001]
1.
Short title
and commencement. ─ (1) These rules may be called The Punjab Local
Governments (Tax on Transfer of Immovable Property) Rules, 2001.
(2)
They shall come into force at once.
2.
Definitions.
─ (1) In these rules unless the subject or context requires otherwise:-
(a)
“Immovable property” means any building or land situate
within the limits of a Tehsil/Town Municipal Administration;
(b)
“tax” means the tax levied under these rules on the
transfer of immovable property;
(c)
“taxation officer” means an officer appointed or
designated as such under these rules for the purposes of assessment and
collection of the tax of the Tehsil/Town Municipal Administration; and
(d)
“transfer of immovable property” means the conveyance
of proprietary rights in any immovable property from one person to another.
(2)
Words and expressions used but not defined in these
rules shall have the same meaning as are respectively assigned to them in the
Ordinance.
3.
Levy of tax.
─ (1) A Local Government for a Tehsil/Town may levy tax on the transfer of
immovable property situated within its limits as provided in Part-II of the
Second Schedule of the Punjab Local Government Ordinance, 2001.
(2)
The rate of the tax shall be fixed as a percentage of
the amount of consideration of transfer of property.
Explanation. ─ For
the purpose of this rule “consideration” means the price paid for the transfer
of the immovable property and where no price is paid the market value as
assessed by the authority competent to collect the tax.
4.
Assessment
and collection of tax. ─ (1) Where an immovable property is transferred through a registered deed the tax shall become due as
soon as the sale deed is registered and may be
assessed and collected by the Taxation Officer either directly or through the
Registrar or Sub-Registrar concerned, if so authorized by the Board of Revenue
either by a general or special order.
(2)
Where an immovable property is transferred
orally and such transfer is followed by a mutation in the revenue office
the tax shall become due as soon as the mutation is sanctioned and may be
assessed and collected by the Taxation Officer either directly or through the
Revenue Officer concerned, if so authorized by the Board of Revenue either by a
general or a special order.
(3)
Where a transfer is not covered by sub-rule (1) or
sub-rule (2) the tax shall become due as soon as the sale
takes place and may be assessed and collected by the Taxation Officer at
the office of Tehsil/Town Municipal Administration.
5.
Liability to
pay tax. ─ The tax shall be paid by the transferee of the property unless
otherwise mutually agreed to between the transferor and the transferee in
writing.
6.
Credit of
tax. ─ The authority collecting the tax under rule 4 shall immediately
credit the amount so collected to the local fund of the Tehsil/Town Municipal
Administration.
7.
Recovery of
arrears of tax. ─ If the tax assessed under rule 4 is not paid, it shall be
recoverable as arrears of land revenue.
8.
Appeal. ─ Any
person aggrieved by an order under rule 4 or rule 7 may prefer an appeal to the
Tehsil/Town Nazim within thirty days of the date of such order and the order
passed by the Nazim on the appeal shall be final.
9.
EXEMPTION. No
tax shall be levied on the transfer of immovable property-
(a) in favour of the Federal or the Provincial Government;
(aa) “in favour
of or by a company engaged in issuing sharia complaint securities/sukuk
certificates to overseas investors and in which the
Federal Government has the
controlling shares”.[1]
(b)
by Tamleek (i.e. Gift in favour of legal heirs) up to
25 acres of
agricultural land in rural areas;
or
(c)
by exchange up to 25 acres of agricultural land in
rural areas.
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