106. Payment of arrear tax by instalments.—

(1) The Commissioner may, within such time-limit, on such terms and in such manner as may be prescribed, give permission to a defaulting taxpayer to pay arrear taxes in instalments, and may, for default in paying any instalment, cancel such permission.

(2) The time- limit for the payment of arrear taxes by instalments granted under this section shall not be more than 12 (twelve) months.