The Punjab Development Fund Act, 2014
The Punjab Development Fund Act, 2014
General201411 sections
The Punjab Development Fund Act, 2014 establishes a legal framework to manage a specific fund intended for community development in the Punjab region. The Act creates a body corporate known as the Punjab Development Fund Board, headed by government officials like the Excise and Taxation Minister, which is responsible for overseeing the collection, maintenance, and operation of the fund. The primary objective is to generate revenue through Excise Policy and utilize it to fund durable community assets and welfare schemes targeting specific taxpayers under the Punjab Value Added Tax Act. This ensures systematic development and resource allocation for public welfare.
- 1. Short title and commencement
- 2. Definitions
- 3. Establishment of the Board
- 4. Powers of the Chairperson
- 5. Constitution of the Development Fund
- 6. Objectives of the Development Fund
- 7. Revenue Streams for the Development Fund
- 8. Power of the Board to make regulations
- 9. Powers of the State Government to make rules
- 10. Powers to remove difficulties
- 11. Protection for action taken in good faith
PDF: pending for this language.