Report No. 12
221. Commission receipts.-
Where part of this income subject to advance tax consists of any income of the nature of commission which is receivable periodically and is not received or adjusted by the payer in the assessee's account before any of the quarterly instalments of advance tax become due, he may defer payment of advance tax on that part of his income to the date on which such income would be normally received or adjusted, and if he does so he shall communicate to the Income-tax Officer the date to which such payment is deferred:
Provided that, if the advance tax of which the payment is deferred is not paid within fifteen days of the date on which such income or part thereof is received or adjusted by the payer in the assessee's account, the advance tax shall be payable with four per cent. simple interest per annum from the date of such receipt or adjustment to the date of payment of the advance tax.