Securities and Exchange Board of India Act : Exemption from tax on wealth and income. Indian Bare Acts

Securities and Exchange Board of India Act,1992

Act No : 15

Section : Exemption from tax on wealth and income.

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. ---------------------------------------------------------------------- 1. Ins. by Act 9 of 1995, s. 11 (w.e.f. 25-1-1995). 2. Ins. by s. 12, ibid.for certain words (w.e.f. 25-1-1995). 3. Subs. by s. 13, ibid. (w.e.f. 25-1-1995). 74