Amendment status not verified — confirm the current text below against the official source.
On an application filed by a taxable person, the Commissioner may, for reasons to be recorded in writing, extent the time Payment of for payment or allow payment of any amount due tax and other under this Act, other than the amount due as per the amount in liability self-assessed in any return, by such person in instalments. monthly instalments not exceeding twenty four, subject to payment of interest under section 50 and subject to such conditions and limitations as may be prescribed: Provided that where there is default in payment of any one instalment on its due date, the whole outstanding balance payable on such date shall become due and payable forthwith and shalt, without any further notice being served on the person, be liable for recovery.