The Punjab Government has raised court fees and stamp duties as part of the Finance Bill 2024-25 and authorized authorities to declare properties as high-value.
Finance Minister Mujtaba Shuja-ur-Rehman presented the bill in the Punjab Assembly. Amendments to the Court Fee Act 1870 increase the court fee from Rs. 1 to Rs. 100 and from Rs. 2 to Rs. 500.
The Finance Bill has also amended the Stamp Act 1899, raising the stamp duty from Rs. 100 to Rs. 300 and from Rs. 1,200 to Rs. 3,000. Property taxes will now be based on capital value instead of rental value. The bill has introduced fines for tax evasion or underpayment.
Stamp duties have increased on affidavits, mutual agreements, powers of attorney, divorce papers, and rental agreements. The government aims to earn Rs. 4.2 billion annually through these hikes.
Specific changes include the rate for affidavits rising from Rs. 100 to Rs. 300, the stamp duty for the sale of immovable property from Rs. 1,200 to Rs. 3,000, contracts worth Rs. 5 lac from Rs. 1,200 to Rs. 3,000, and the fee for divorce papers from Rs. 100 to Rs. 1,000.
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