Section 39 once dealt with managing agency commission. The section has been omitted, and only the bracketed note stands in the Act.
Operative consequences
No provision of the 1961 Act operates under this number.
The Income-tax Act, 2025 contains no corresponding provision.
Status
The section is not operative for AY 2026-27. The Act reads: “[Omitted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989.]” The Finance Act, 2026 does not amend this section.
The 1961 Act governs AY 2026-27 and earlier assessment years; the Income-tax Act, 2025 governs tax year 2026-27 onwards. For this subject there is no provision in the Income-tax Act, 2025.
Function in the statutory architecture
Section 39 once dealt with managing agency commission. The section has been omitted, and only the bracketed note stands in the Act.
Operative consequences
Status
The section is not operative for AY 2026-27. The Act reads: “[Omitted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989.]” The Finance Act, 2026 does not amend this section.
The 1961 Act governs AY 2026-27 and earlier assessment years; the Income-tax Act, 2025 governs tax year 2026-27 onwards. For this subject there is no provision in the Income-tax Act, 2025.