Section 42 in Rajasthan Motor Vehicles Taxation Rules, 1951
42. Cost for the purpose of computation of tax.
- Cost of the vehicle/chassis shall be arrived at in case:a. the vehicle/chassis is purchased in the financial year in which the tax due, by including the elements of taxes and levies in purchase price prevailing on 1st April of the year of purchase.b. the vehicle/chassis purchased earlier than the year in which the tax is due by adding the element of notional price increase at the rate of 15 (fifteen) percent per annum compounded annually on the purchase price prevailing on 1st April of the year of purchase of similar type of vehicle:Provided that the owner of the vehicle/chassis or any person authorised by him in this behalf, may opt to have the cost of his vehicle assessed as to be the same as the cost assessed at current price of similar type of vehicle as ;prevailing on 1st April of the year in which the tax is due:Provided further that if the original purchase bill is not produced by the vehicle owner, and/or the option of having the cost assessed at the current price is not exercised by the owner, the price of the similar types of vehicles existing as on 1st of April of the year for which the tax is due shall be taken for computation purposes:Provided also that in case of notional price increase of 15% compounded annually, the cost of the vehicle so arrived at shall not exceed the current cost of similar types or new vehicles in the financial year in which the tax is due:Provided also that in case of vehicle purchased/registered outside the state or military disposal vehicles, cost shall be as applicable in the year in which the tax is due for the similar type of vehicle of this State.][Explanation:- (i) Purchase prices for determining the cost for computation of tax shall be as prevailing at Jaipur and if in case the dealer of any vehicle is not available at Jaipur, the cost shall be as prescribed by the Transport Commissioner.(ii)When under clause (n) of sub-rule (1) of rule 2 of these rules, similarity is established with more than one vehicle/chassis, then the vehicle/chassis having lower cost shall be taken for the purpose of computation of tax.]
