Reserve Bank of India Act : Exemption of Bank from income-tax and super-tax Indian Bare Acts :

Reserve Bank of India Act,1934

Act No : 2

Section : Exemption of Bank from income-tax and super-tax

48. Exemption of Bank from income-tax and super-tax.- (1) Notwithstanding anything contained in 8*[the Income-tax Act, 1961 (43 of 1961)], or any other enactment for the time being in force relating to income-tax or super-tax, the Bank shall not be liable to pay income-tax or super-tax on any of its income, profits or gains. 9* * * * * *