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of <h1>Bank of Bhutan Exempt from Income Tax on SBI Deposits Interest (1972-1986) Per Finance Act 1982.</h1> The Bank of Bhutan, established under the Royal Charter of 1968, is exempt from paying income tax on interest earned from deposits with the State Bank of India. This exemption applies to interest accrued between January 1, 1972, and December 31, 1986, as per the Finance Act of 1982. This provision overrides any conflicting stipulations in the Income-tax Act, granting specific tax relief to the Bank of Bhutan for the specified period.
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