Punjab Government has imposed a new tax namely institutional and building tax by promuglating ordinace dated January 10, 2011 by the name The Punjab (Institutions and Other Buildings) Tax Ordinance, 2010.This tax has been imposed on Buildings and Institutions situated outside the municipal areas in the state of Punjab.
As we know the house tax is imposed by Municipal bodies on the commercial buildings situated within their limits, but no such tax is payable on the buildings and insitutions (like marriage palaces, hotels, Dhabas, schools, water parks, amusement parks etc), situated outside the municipal limits. To bring an end to this inequality this new tax has been imposed (this was asserted by the Governement at the time of introduction of this tax few months back)
This tax is applicable from 10-01-2011. The maximum amount of tax imposable under this ordinance is Rs 10 per square foot of the area covered by such buildings or institutes.
Buildings used for the purpose of Schools imparting education upto senior secondary leval, residential purposes, cattle shed or polutry shed or godowns for storing wheat or paddy of the State Governement, have been excluded from the definition of buildings under this ordinance. Buildings having area of 500 or less than 500 Square feet have also been excluded from the definition of buildings. Thus no tax under the said ordinance will be imposable on the said buildings.
The full Ordinace can be downloaded at below link:
The Punjab (Institutions and Other Buildings) Tax Ordinance, 2010.
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As we know the house tax is imposed by Municipal bodies on the commercial buildings situated within their limits, but no such tax is payable on the buildings and insitutions (like marriage palaces, hotels, Dhabas, schools, water parks, amusement parks etc), situated outside the municipal limits. To bring an end to this inequality this new tax has been imposed (this was asserted by the Governement at the time of introduction of this tax few months back)
This tax is applicable from 10-01-2011. The maximum amount of tax imposable under this ordinance is Rs 10 per square foot of the area covered by such buildings or institutes.
Buildings used for the purpose of Schools imparting education upto senior secondary leval, residential purposes, cattle shed or polutry shed or godowns for storing wheat or paddy of the State Governement, have been excluded from the definition of buildings under this ordinance. Buildings having area of 500 or less than 500 Square feet have also been excluded from the definition of buildings. Thus no tax under the said ordinance will be imposable on the said buildings.
The full Ordinace can be downloaded at below link:
The Punjab (Institutions and Other Buildings) Tax Ordinance, 2010.
Share |
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