Instalment payment option for tax liabilities permitted with interest; default accelerates entire outstanding balance and recovery. The Chief Commissioner may, for reasons recorded in writing, permit a taxable person to pay amounts due under the Act (excluding self-assessed return ... Summary
Instalment payment option for tax liabilities permitted with interest; default accelerates entire outstanding balance and recovery.
The Chief Commissioner may, for reasons recorded in writing, permit a taxable person to pay amounts due under the Act (excluding self-assessed return liabilities) by monthly instalments subject to interest and prescribed conditions; default of any one instalment causes the whole outstanding balance to become immediately due and liable for recovery without further notice.
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