Option to pay tax in instalments and interest

Tax202030 sections4 chapters

Chapter IV LAND TAX

Statutory text

(1) A landholder may, at his option, pay the tax either in lump sum on or before the 30th day of April of the year or on or before the last day of the month next following the month in which a land becomes taxable or in three equal instalments of equal periods ending on 31st March of a year, however, any amount of tax paid after the 30th day of April or the last day of the month next following the month in which a land becomes taxable, as the case may be, shall carry a simple interest at the rate of 12 per cent per annum until the date of payment of such amount.
(2) Notwithstanding anything contained in sub-section (1), where any land for any reason whatsoever ceases to be liable to tax at any time during a year, the landholder shall pay the whole amount of tax due in respect of such land on or before the last day of the month in which such land ceases to be liable to tax along with the interest payable, if any.

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