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<h1>Exemption from tax: statutory immunity shields the securities regulator and its predecessor from wealth and income tax liability.</h1> The provision grants the Board and the existing Securities and Exchange Board immunity from liability for wealth-tax, income-tax and any other tax in respect of their wealth, income, profits or gains, notwithstanding contrary provisions in the Wealth-tax Act, the Income-tax Act or other taxation enactments, and applies to the predecessor body for the period between its constitution and the Board's establishment.