Interest definition excludes brokerage: intermediary fees for securing loans are not treated as interest for withholding.

Interest is construed as payment for the use of borrowed moneys payable by or on behalf of the debtor to the creditor or to any person on his behalf. Brokerage or manager's remuneration payable to a broker or middleman who secures deposits is not includible within the meaning of interest. The term "service fee or other charge" refers to amounts paid by the borrower to the creditor, such as discounts, fees or damages, in respect of borrowed moneys or unutilised credit facilities, but excludes intermediary brokerage charges.

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