Special tax deposit procedure: interim electronic cash ledger deposits required in early quarter months based on prior period liability. Notification permits registered persons filing quarterly returns to make interim payments in the first and/or second month of a quarter by depositing into the electronic cash ledger an amount equal to thirty five percent of the tax liability from the relevant preceding period (preceding quarter for quarterly filers; last month of immediately preceding quarter for monthly filers). Deposits are not required where electronic cash or credit ledger balances suffice or where liability is nil. Eligibility requires furnishing the return for a complete preceding tax period.
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Provisions expressly mentioned in the judgment/order text.
Special tax deposit procedure: interim electronic cash ledger deposits required in early quarter months based on prior period liability.
Notification permits registered persons filing quarterly returns to make interim payments in the first and/or second month of a quarter by depositing into the electronic cash ledger an amount equal to thirty five percent of the tax liability from the relevant preceding period (preceding quarter for quarterly filers; last month of immediately preceding quarter for monthly filers). Deposits are not required where electronic cash or credit ledger balances suffice or where liability is nil. Eligibility requires furnishing the return for a complete preceding tax period.
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