(1) After the taxpayer has submitted the statement of assets, if the taxpayer later comes to know that there is a mistake in such statement, he may submit the revised statement by clearly disclosing the reason or basis for such a mistake.

(2) Notwithstanding anything written in sub-section (1), the revised statement cannot be submitted in the following cases:

(a) If one year has passed since the receipt of the tax assessment order as per section 10.

(b) If a notification is received from the Government of Nepal that action is to be taken in accordance with section 20.

(3) According to sub-section (1), the taxpayer shall not be allowed to submit the revised property statement more than once in a financial year.

(4) When the tax is re-assessed on the basis of the revised property statement submitted after the tax has been determined, if there is a difference in the previously determined tax amount, an additional fee of ten percent of the difference will be charged.