Development tax Bill passed unanimously

The Punjab Assembly on Monday unanimously passed the Punjab State Development Tax (Amendment) Bill, 2025, and the Punjab Appropriation Acts (Repeal) Bill, 2025, presented by Finance Minister Harpal Singh Cheema.

The Punjab State Development Tax (Amendment) Bill aims to streamline and enhance the efficiency of the Punjab State Development Tax Act, 2018, that mandates a monthly payment of Rs 200 from every income taxpayer, contributing to annual revenue of Rs 190.36 crore during the financial year 2024-25.

Cheema highlighted that representatives of various institutions and organisations had approached him regarding certain practical difficulties in the existing Act passed by the previous Congress government. After discussions with CM Bhagwant Singh Mann, several key provisions were designed to simplify compliance and clarify various aspects of the tax framework, he added.

“A notable convenience for taxpayers is the introduction of a lump-sum tax payment option, allowing individuals to deposit Rs 2,200 once, in lieu of the monthly Rs 200 (Rs 2,400 annually), thereby simplifying the payment process,” he added.

Punjab