The Small Industries Development Bank of India Act, 1989
50. Act 43 of 1961 not to apply to Small Industries Bank
Notwithstanding anything to the contrary contained in the Income-tax Act.1961 or any other enactment for the time being in force relating to income-tax or any other tax on income, profits or gains, the Small Industries Bank shall not be liable to pay income-tax or any other tax in respect of-
a. Any income, profits or gains accruing or arising to the Small Industries Development Assistance Fund or any amount received in that Fund; and
b. Any income, profits or gains derived or any amount received by the Small Industries Bank.