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[Cites 0, Cited by 0] [Section 195] [Entire Act]

State of Haryana - Subsection

Section 195(3) in The Haryana Motor Vehicles Rules, 1993

(3)In determining the amount to be expended by the local authority under the preceding sub-rule on new building, improvement and amenities a deduction shall be made equal to :-
(a)the interest which the local authority may actually be paying on any sum borrowed by it during the preceding twenty years expended capital of its own in acquiring land or building for the stand or if the local authority has during the preceding twenty years expended capital of its own in acquiring land and buildings a sum representing interest on that capital at the current bank rate;
(b)any rent which may be due from the local authority to a person on account of the land and building included in the stand; and
(c)such an additional sum not exceeding three per cent of the gross receipts from fees as may be agreed between the Regional Transport Authority and the local authority.