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of <h1>Managing Agents Must Declare Commission Sharing Proportions and Tax Liabilities Under Income Tax Act Section 44</h1> The statutory provision relates to managing agency commission under the Income Tax Act, 1961. It originally addressed situations where a managing agent of a company is contractually obligated to share commission with third parties. The provision required filing a declaration detailing the proportional sharing of commission, with tax liability assessed based on each party's agreed share under the written agreement.
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