Amendment status not verified — confirm the current text below against the official source.
Provisions relating to income-tax and super-tax.—For the purposes of the 4[Income-tax Act, 1961 (43 of 1961)], the Financial Corporation shall be deemed to be a company within the meaning of that Act and shall be liable to income-tax and super-tax accordingly on its income, profits and gains: Provided that any sum paid by the State Government under the guarantee given in pursuance of 5*** 6[section 7 or section 8] shall not be treated as the income, profits and gains of the Financial Corporation and any interest on debentures, 7[bonds or deposits] paid by the Financial Corporation out of such sum shall not be treated as expenditure incurred by it: