Advance surtax obligations require scheduled instalments and filing of estimates, with statutory interest consequences for underpayments. Sections 7A-7D establish that companies must pay advance surtax in three instalments based on the chargeable amount of the latest regular assessment or a substituted provisional assessment; companies must file statements or estimates in prescribed form and may revise estimates when justified. Interest rules require the government to pay interest on overpayments and require companies to pay simple interest at a statutory rate where advance payments are deficient, where required statements or estimates are not filed, or where underestimates affected early instalments; adjustments, waivers and refunds of interest are provided for in specified circumstances.
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Provisions expressly mentioned in the judgment/order text.
Advance surtax obligations require scheduled instalments and filing of estimates, with statutory interest consequences for underpayments.
Sections 7A-7D establish that companies must pay advance surtax in three instalments based on the chargeable amount of the latest regular assessment or a substituted provisional assessment; companies must file statements or estimates in prescribed form and may revise estimates when justified. Interest rules require the government to pay interest on overpayments and require companies to pay simple interest at a statutory rate where advance payments are deficient, where required statements or estimates are not filed, or where underestimates affected early instalments; adjustments, waivers and refunds of interest are provided for in specified circumstances.
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