Managing Agency - Definition - Law Dictionary Home Dictionary Definition managing-agency

Definition :

Managing agency, Managing agency is itself a business, J.K. Trust v. Commissioner of Income Tax/Excess Profits Tax, AIR 1957 SC 846: (1958) SCR 65. [Income Tax Act, 1922, s. 4 (3)]

It includes--

(i) Secretaries and Treasurers;

(ii) Where the managing agent is a company, and director of such company, and any member thereof who holds substantial interest in such company.

(iii) Where the managing agent is a firm, any partner of such firm. [Banking Regulation Act, 1949 (10 of 1949), s. 5 (gg)]