LexSection 48 — Exemption of Banks from income-tax and super-tax.
The Reserve Bank of India Act, 1934
(1) Notwithstanding anything contained in 1 [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. 2 * * * * * 3 * * * * *Open in Lexace · Ask the AI about this section