25. EXEMPTION FROM TAX
ON WEALTH AND INCOME.
Notwithstanding anything contained in the Wealth-tax Act, 1957 (27 of
1957), the Income-tax Act, 1961 (43 of 1961) or any other enactment for
the time being in force relating to tax on wealth, income, profits or
gains -
(a) the Board;
(b) the existing Securities and Exchange Board from the date of its
constitution to the date of establishment of the Board,
shall not be liable to pay wealth-tax, income-tax or any other tax in
respect of their wealth, income, profits or gains derived.
