Section 80. Payment of tax and other amount in
instalments.-
On an application filed by a taxable person, the
Commissioner may, for reasons to be recorded in writing, extend the time for
payment or allow payment of any amount due under this Act, other than the
amount due as per the liability self-assessed in any return, by such person in
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 shall, without any further
notice being served on the person, be liable for recovery.
