If I have an equation $y = \cos(x)$;
What would be the the rotated function, if I had rotated the axis by $45$ degrees ?
For example, $\cos(x)$ oscillates about the $x$ axis.
How do I determine the function which oscillates like $\cos(x)$ about the line which makes intersects the $y$ axis at $(1,0)$ and $x$ axis at $(0,1)$ ?
You can't really speak about rotating a function. What you're describing sounds like you're rotating the graph of a function. This will sometimes but not always result in a geometrical figure that is the graph of another function.
(For example consider the function $f(x)=0$ whose graph is the $x$ axis. If you rotate that by 90° around the origin you get the $y$ axis, which is not the graph of any function).
It happens that if you turn the graph of the cosine function by 45° you will get something that is a graph for a function -- but that function doesn't have any nice formula that describes how to compute it; the best you can say is "the function whose graph arises in such-and-such way". Its actual values have to be approximated numerically.
It may be that what you really want is the function $$ g(x) = 1-x+\cos x $$ but the graph of that is not the familiar cosine curve turned by 45°.