Income Tax Act, 1962 (Act 58 of 1962)
Chapter III: General Provisions
Part IV: Payment and Recovery of Tax
89. Appointment of day for payment of tax and interest on overdue payments (Repealed)
[Repealed by the Tax Administration Act, 2011 (Act No. 28 of 2011)].
|1)||Subject to the provisions of section 89bis any tax chargeable shall be paid on such days and at such places as may be notified by the Commissioner or as specified in this Act, and may be paid in one sum or in instalments of equal or varying amounts as may be determined by the Commissioner having regard to the circumstances of the case.|
|2)||If the taxpayer fails to pay any tax in full within the period for payment notified by the Commissioner in the notice of assessment or within the period for payment prescribed by this Act, as the case may be, interest shall, unless the Commissioner having regard to the circumstances of the case grants an extension of such period and otherwise directs, be paid by the taxpayer at the prescribed rate on the outstanding balance of such tax in respect of each completed month (reckoned from the date for payment specified in the notice of assessment or the date on which the tax has become payable in terms of this Act, as the case may be) during which any portion of the tax has remained unpaid.|
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