Section 37 in The Kerala Agricultural Income Tax Act, 1991
37. Self assessment and payment of advance Tax.
(1)Every person liable to furnish a return under section 35 or section 41 other than an assessee coming under S.13, shall pay tax for previous year on or before the end of February of the previous year or within three months from the commencement of this Act whichever is later, on the estimated total agricultural income which shall not be less than eighty per cent of the total agricultural income as per return.(2)Every person liable to pay tax under section 13 shall pay the tax for the previous year calculated on the extent of landed properties held in accordance with section 13, before the end of February of the previous year.(3)Every person liable to furnish a return under section 35 or section 41, before furnishing the return, shall pay the tax due on the total agricultural income derived during the previous year, after deducting the advance tax already paid by him in accordance with sub-section (1) or sub-section (2) as the case may be.(4)Any person who fails to pay tax in accordance with this section or in pursuance of a demand notice issued under, section 45 shall pay simple interest at the rate of twelve percent per annum for every month of delay or part thereof, on the unpaid balance tax:Provided that the Commissioner may reduce or waive the interest payable by any person, if he is satisfied there was sufficient reason for the non-payment of tax in time.(5)If any person fails to pay the tax or any part thereof in accordance with the provisions of sub-section (1) or sub-section (2) or fails to pay the tax in accordance with sub-section (3) before the due date fixed for filing the return, the assessing authority may direct that a sum equal to two percent of such tax or part thereof, as the case may be, shall be recovered from him by way of penalty for every month during which the default continues:Provided that before levying any such penalty, the person shall be given a reasonable opportunity of being heard:Provided further that the Commissioner may reduce or waive the penalty, if he is satisfied that there was sufficient reason for the delay in payment of the tax.
