Section 105(2) in Punjab Panchayat Samitis and Zila Parishads Finance, Budget and Accounts Rules, 2014
(2)The Reserve price of a vehicle shall be the Purchase price depreciated for the first year at thirty percent and for second and subsequent years at 9.5 percent per annum and depreciation for part of a year shall be calculated pro rata subject to minimum of thirty percent of the purchase price. The purchase price shall be the cost of the vehicle plus the purchase price of major accessories including air conditioner if fitted. The date for calculating the depreciated price in the above manner shall be the date on which the competent authority declare a vehicle condemned or the date on which reference is made to the Chief Executive Officer of the Zila Parishad for the disposal of the vehicle.
