Download THE PUNJAB LOCAL GOVERNMENTS (TAX ON TRANSFER OF IMMOVABLE PROPERTY) RULES, 2016 — They shall come into force at once. Immovable property means any building or land situated within the limits of a local government. Local Government means a local government other than an Authority established under the Act. Transfer of immovable property means the conveyance of proprietary rights of any immovable property from one person to another. A local government may levy tax on the transfer of immovable property. The rate of the tax shall be fixed and notified by the Government based on the certain percentage of consideration paid for the transfer of property. If the immovable property is transferred through a registered deed, the tax shall due as soon as the deed is registered. If oral transaction is made for transfer of the immovable property and followed by a mutation in the revenue office, the tax shall due as soon as the mutation is sanctioned.  The tax shall be assessed and collected by the collecting officer either directly or through the Revenue Officer, if so authorized by the Board of Revenue of the Punjab.