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Section 48 – Reserve Bank of India Act,1934

Reserve Bank of India Act,1934

Section 48. Exemption of bank from income-tax and super-tax

Notwithstanding anything contained in 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 income, profits or gains.

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Reserve Bank of India Act,1934

Indian Laws – Bare Acts

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