(1) The contractor shall file the statement of income of the petroleum industry in the form prescribed by the Government of Nepal by publishing a notice in the Nepal Gazette as follows:-
(a) Estimated quarterly income statement within thirty (30) days after the end of each quarterly period.
(b) Annual income statement within three (3) months after the end of each accounting period (2) In accordance with clause (a) of sub-rule (1), while filing the quarterly income statement, the contractor shall also file the estimated quarterly income tax.
(3) Within three (3) months after the end of each accounting period, subject to sub-rule (2), the contractor shall pay the outstanding income tax or submit an application to recover the overpaid income tax.