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[Cites 0, Cited by 0] [Section 5] [Entire Act]

State of Punjab - Subsection

Section 5(1) in The Punjab Temporary Taxation Act, 1962

(1)For the purpose of assessment of the tax on any person under the Punjab Professions, Trades, Callings and Employments Taxation Act, 1956, in respect of the financial year 1962-63 or a part thereof, the tax shall, notwithstanding anything to the contrary contained in the said Act, be levied with reference to the total gross income of such person during the previous year at the rates specified in the following Schedule :-The Schedule
  Rates of tax   Amount of tax
      Rs.
  Where the gross total annual income -    
(i) exceeds Rs. 1,80 but does not exceed Rs. 3,000 .. 28
(ii) exceeds Rs. 3,000 but does not exceed Rs. 6,000 .. 60
(iii) exceeds Rs. 6,000 but does not exceed Rs. 8,500 .. 172
(iv) exceeds Rs. 8,500 but does not exceed Rs. 11,500 .. 200
(v) Exceeds Rs. 11,500 .. 250
Provided that where tax is payable in respect of a part of the financial year, it shall be an amount bearing to the tax payable for the whole of the financial year the same proportion as the period in respect of which the tax is payable bears to the financial year.