Section 25 - Exemption from tax on wealth and income - Securities and Exchange Board of India Act, 1992

Exemption from tax on wealth and income. 25. 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.