(7)On receipt of the option under sub-section (5), the assessing authority shall determine the amount of tax and other amounts due from the assessee under sub-section (1) and shall intimate the same to the assessee, and thereupon the assessee shall remit the amount in installments or lump sum, as the case may be, on or before 31st March, 2021:Provided that the first installment thereof, for those who opt for payment as specified in clause (i) of sub-section (1), shall not be less than twenty per cent of the amount determined in this sub-section and such amount shall be paid within thirty days of receipt of the said intimation and the balance amount to be paid in installments, subject to a maximum of four equal installments.
