II.

belonging to units or projects covered under the 'Fiscal Incentives for Industrial Promotion-2013' as notified by the Government of Punjab, Department of Industries and Commerce, vide No. CC/FIIP/2013/5343, dated the 5th December, 2013, the exemption shall be available to such Units or Projects subject to the terms and conditions set and to the extent indicated therein, on production of a certificate from the nodal agency specified in the said Notification; pertaining to residential houses (without any condition of storeys) measuring 50 square yards or below or single storey residential houses (inclusive of mumti and water tanks) measuring 125 square yards or below or residential flats having super covered area measuring 500 square feet or below; IV. in the area including in a Corporation on or after the first day of April, 2014, for a period of three years to be reckoned from the date of such inclusion;

V. in the area which was including in a Corporation within the

period of three years prior to the first day of April, 2014 but had not completed three years on this date, for a period of three years to be reckoned from the said date; VI. owned by the following categories of persons:-

1. (i) Freedom Fighters, who are receiving pension as such from the Central Government or the State Government or both, as the case may be;
2. (ii) Persons living below poverty line who possess requisite card, issued in support thereof; and
3. (iii) Persons, who had served, or are serving, in any rank, whether as a combatant or a non-combatant, in the Naval, Military or Air Forces of the Union of India; Explanation.-The expression 'vacant land' shall construe the land comprising any plot which does not contain any structure, may be pucca or kacha.

PUNJAB GOVT. GAZ. (EXTRA), JANUARY 27, 2015 16

(MAGHA 7, 1936 SAKA)

1. (B) the land and/or building owned by the following categories of persons shall be exempted from the payment of tax of five thousand rupees per financial year:-
   • (i) Widows; and
   • (ii) Handicapped persons, who are as if being assesses entitled for the time being to the benefits of deduction under section 80 U of the Income Tax Act, 1961;
2. (C) the land and/or building of all educational institutions, other than Governmental and Government aided, shall be exempted from the payment of fifty percent of the tax assessed for a financial year: Provided that if it appears to the State Government to be expedient and necessary, at any time, it may review the exemptions so granted, by an order to be published in the Official Gazette.".