Meaning of interest u/s 2(28A) of the Income Tax Act 1961.

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..... n respect of any moneys borrowed or debt incurred and includes any service fee or the charge in respect of the moneys borrowed or debt incurred or in respect of any credit facility which has not been utilised. 2. A question has been raised as to whether payments like brokerage or manager's remuneration payable by the debtor a middleman for arranging loans/advances would be included in the term i .....

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..... mount paid in such form as discount, fee, damages, etc. by the borrower to the creditor in respect of the moneys borrowed or debt incurred or credit facility not utilised but would not include the brokerage charges or manager's remuneration for services rendered by a middleman in securing the deposits. - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Management India .....

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