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Section 50A

Section 50A. Exemption from tax on income

1[50A. Exemption from tax on income. -- Notwithstanding anything contained in the Income-tax Act, 1961 (43 of 1961) or any other enactment for the time being in force relating to tax on income, profits or gains, the Authority shall not be liable to pay income-tax or any other tax in respect of its income, profits or gains.]

1Superscript markers show text inserted or substituted by a later amendment. The Act carries the markers without the footnotes they refer to, so they are shown without a target.