Filing of adjustment returns and final payment of income tax.
Section 87
SEC. 87. Filing of adjustment returns and final payment of income tax.—On or before the fifteenth day of April or on before the fifteenth day of the fourth month following the close of the fiscal year, every taxpayer covered by this Chapter shall file an adjustment return covering the total net taxable income of the preceding' calendar or fiscal year and tf the sum of the quarterly tax payments made during that year is not equal to the total tax due on the entire net taxable income of that year, the corporation shall either (a) pay the excess tax still due or (b) be refunded the excess amount paid, as the case may be- In case the corporation is entitled to a refund of excess estimated quarterly income taxes paid, the refundable amount shown in its final and adjustment return may be credited against the .estimated quarterly income tax liabilities for the taxable quarters of the succeeding taxable year.