What to be deemed arrear of rent : interest on arrears

(1) Any instalment of rent which is not paid before sunset on the day when the same is payable or, where the State Government is the landlord, is not paid at the end of the agricultural year in which it falls due shall be deemed an arrear of rent, and shall be liable to simple interest not exceeding six and a-quarter per centum per annum: Provided that where a tenant pays his rent in full within the year following the agricultural year in which it accrues due, interest shall not exceed three per centum on the yearly rent, lawfully payable.