Amendment status not verified — confirm the current text below against the official source.
Notwithstanding anything to the contrary contained in the Income-tax Act, 1961, the Super Profits Tax Act, 1963 or in any other enactment for the time being in force relating to income-tax, super-tax or super profits tax, or any other tax on income, profits or gains, the Development Bank shall not be liable to pay income-tax; super-tax, super profits tax or any other tax in respect of-- (a) any income, profits or gains accruing or arising to the Development Assistance Fund or any amount received in that fund; and (b) any income, profits or gains derived or any amount received by the Development Bank.