Waiver of the tax, etc.

An applicant shall be entitled to,- (i) 50% (fifty percent) waiver of all the disputed taxes which are not yet collected as on 31st March, 2001; and (ii) 90% (ninety percent), waiver of interest or penalties raised under any provisions of the relevant Act which were due as on 31st March, 2001; if the payment of fifty percent of the disputed taxes as on 31st March, 2001 is made during the period from 1st August, 2001 to 30th September, 2001.