law: Securities and Exchange Board of India Act, 1992
  25.Exemption from tax
  
  on wealth and income.- 
  Notwithstanding anything
  
  contained in the Wealth-tax Act, 1957, (27 of 1957) the Income-tax Act, 1961
  
  (43 of 1961) or any other enactment for the time being in force relating to tax
  
  on wealth, income, profits or gains—
  (a) the Board;
  (b) the existing
  
  Securities and Exchange Board from the date of its constitution to the date of
  
  establishment of the Board, shall not be liable to pay wealth-tax or any other
  
  tax in respect of their wealth, income profits or gains derived.(Exception from
  
  tax on wealth and income)