Section 8(3) in The Punjab Forward Contracts Tax Act, 1951
(3)The amount of tax -(a)due where the returns are furnished without receipt showing full payment thereof, or(b)assessed under sub-section (1), less the sum, if any, already paid by the dealer in respect of the said period, or(c)assessed under sub-section (2), together with the penalty directed to be paid under that sub-section, shall be paid by the dealer into a Government Treasury or the Reserve Bank of India by such date as may be specified in a notice issued by the assessing authority for this purpose, and the date to be specified shall not be less than 30 days from the date of service of such notice:Provided that the assessing authority may, in respect of any particular dealers and for reasons to be recorded in writing, extend the date of such payment, or allow such dealer to pay the tax due and the penalty (if any) by instalments.
