https://www.taxtmi.com/circulars?id=9174 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. en-us Mon, 27 Mar 1978 00:00:00 +0530 Thu, 02 Jun 2011 17:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=9174 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. Circulars Income Tax Mon, 27 Mar 1978 00:00:00 +0530 https://www.taxtmi.com/circulars?id=9174