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, income-tax or any other tax in respect of their wealth, income, profits or gains derived.