Section 95 : Return of estimated tax to be paid
1) Every person who has to pay installment in any income year has to submit to the Department a return, in such format and manner as may be prescribed, setting out the estimates of the following amounts of that person for that year within the date on which the first installment of tax is to be paid in that year pursuant to Section 94:-

a) Assessable income that could be earned by that person from each source of employment, business and investment in that year and source of such income,

b) Taxable income of that person that could be earned in that year and the amount of tax to be paid by the person referred to in clause (a) of Section 3, which is computed pursuant to Section 4 without subtracting the amount of tax adjustment for medical treatment expenses,

c) In respect of a non-resident person's foreign permanent establishment situated in Nepal, the amount of income sent abroad by such foreign establishment in that year and the amount of tax to be paid by the person referred to in clause (b) of Section 3, which has been computed in that income pursuant to Sub-section (5) of Section 4, and

d) Any other details specified by the Department.

2) The sum total of the amount of tax mentioned in clauses (b) and (c) shall be the estimated tax payable by the person referred to in Sub-section (1) in that income year.

3) In computing the foreign tax adjustment amount to be claimed pursuant to Section 71 in order to make an estimation of the tax to be paid in any income year pursuant to clause (b) of Sub-section (1), only the foreign tax paid by any person in that year or the foreign income tax estimated by him as payable in that year has to be computed.

4) Unless and until any person paying installment of tax submits to the department the amended estimate setting out the necessary information and the reasons for amendment in the format referred to in Sub-section (1), the estimate made by him pursuant to that subsection shall remain valid throughout the income year.

5) Notwithstanding anything contained in subsection (2), the amended estimate submitted by any person pursuant to Sub-section (4) shall be applicable only in computing the installment of tax to be paid pursuant to Section 94 in that income year after the date of its submission to the Department.

6) Notwithstanding anything contained in Sub-sections (1) and (5), the Department may so specify that any person or class who has to pay installment of tax is not required to submit an estimate pursuant to Sub-section (1).

7) Notwithstanding anything contained in Sub-section (2), in cases where any person who has to pay installment of tax does not submit an estimate in any income year pursuant to Sub-section (1) or where the Department is not satisfied with the submitted estimate or amended estimate or where it is so specified pursuant to Sub-section (6) that any person is not required to submit an estimate to pay installment of tax, the Department may do as follows:-

a) The person referred to in clause (a) or (b) of Section 3 may make an estimate of the estimated tax to be paid by him/her in that year on the basis of the tax required to be paid by him/her in the last income year, and

b) In cases where the Department is not satisfied with the estimate prepared pursuant to clause (a), the method used to prepare the estimate and the estimate submitted by the person, the Department shall give a notice in writing setting out the reasons therefor to the person who has to pay installment.

8) In cases where the Department gives a notice to the person who has to pay installment pursuant to Sub-section (7), the amount of estimated tax to be paid by that person in that year shall be the amount estimated by the Department.