Section 3(4) in The Punjab Motor Vehicles Taxation Act, 1924
(4)The tax on motor car and motor cycle shall be leviable in lump sum, which shall be counted on the actual price of such vehicle (excluding taxes, if any) at such rate, as may be determined by the Government from time to time, but not exceeding the rate, as has been specified in the Schedule :Provided that where an owner of a motor car or a motor cycle in respect of which, a tax has been paid in lump sum, ceases to be the resident of the State of Punjab and takes alongwith him such motorcar or motor cycle or if the ownership of the motor car or motor cycle is transferred to a person having residence outside the State of Punjab, then refund of the lump sum tax so paid, shall be allowed at such rate, as may be determined by the Government from time to time.
