Section 13 in The Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002
Title: Tax exemption or benefit to continue to have effect
(1) 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 or income, profits or gains, no income-tax or any other tax shall be payable by the Administrator in relation to the specified undertaking 1[for the period beginning on the appointed day and ending on the 2[31st day of March, 2021]] in respect of any income, profits or gains derived, or any amount received in relation to the specified undertaking.
(2) The transfer and vesting of the undertaking or the specified undertaking in terms of section 4 shall not be construed as a transfer within the meaning of the Income-tax Act, 1961 (43 of 1961) for the purposes of capital gains.
1. Subs. by Act 18 of 2008, s. 123, for "for a period of five years computed from the appointed day" (w.e.f. 1-2-2008).
2. Subs. by Act 23 of 2019, s. 190, for "the 31st day of March, 2019" (w.e.f. 1-4-2019).
Title: Exemption from stamp duty
Notwithstanding anything contained in the Indian Stamp Act, 1899 (2 of 1899), the transfer and vesting of the undertaking and the specified undertaking in terms of section 4 shall not be liable to the payment of any stamp duty under that Act.
Title: Guarantee to be operative
Any guarantee given for or in favour of the Trust with respect to any loan, lease, finance or other assistance shall continue to be operative in relation to the specified undertaking managed by the Administrator.
Title: Protection of action taken in good faith
No suit or other legal proceedings shall lie against the Central Government or the Administrator, Board of Advisers or any of the officers or other employees of the Central Government for any damage caused or likely to be caused by anything which is in good faith done or intended to be done under this Act.
Title: Shares, bonds, debentures and units to be deemed to be approved securities
Notwithstanding anything contained in any other law for the time being in force, the shares, bonds, debentures and units of the specified undertaking shall be deemed to be approved securities for the purposes of the Indian Trusts Act, 1882 (2 of 1882), the Insurance Act, 1938 (4 of 1938) 1***.
1. The words and figures "and the Banking Regulation Act, 1949 (10 of 1949)" omitted by Act 4 of 2013, the Schedule and s. 17