I m really sorry to say this but 481 is very low to fetch you a govt. seat  through AIQ without any reservations . Keeping the trends of cut off last year , your marks should be 520-540+ to get you a govt medical seat.

And talking about your state of domicile, Rajasthan ,cut off range is always expected to be very high , in order to get any medical seat your marks should be atleast 530+.

But you should wait for the spot counselling. And dont get disheartened by this marks ,apply for comedk colleges (semi govt. colleges of karnataka), you may be lucky to get a seat.

Keep registering yourself to all the forms .

All the best.