Commission or brokerage covers agency payments for non-professional, goods-sale and asset transaction services, excluding securities. Commission or brokerage includes payments received or receivable, directly or indirectly, by a person acting on behalf of another. It covers consideration ... Summary
Commission or brokerage covers agency payments for non-professional, goods-sale and asset transaction services, excluding securities.
Commission or brokerage includes payments received or receivable, directly or indirectly, by a person acting on behalf of another. It covers consideration for non-professional services, services in the course of buying or selling goods, and services related to transactions involving assets, valuable articles or things, while excluding securities. The definition under the Income-tax Act, 2025 corresponds substantively with that under the Income-tax Act, 1961.
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