Section 43. Provisions relating to income-tax and super-tax.

For the purposes of the 1[Income-tax Act, 1961(43 of 1961)], the Financial Corporation shall be deemed to be a company within the meaning of that Act and shall be liable to income-tax and super-tax accordingly on its income, profits and gains: Provided that any sum paid by the State Government under the guarantee given in pursuance of2*** 3[section 7 or section 8] shall not be treated as the income, profits and gains of the Financial Corporation and any interest on debentures, 4[bonds or deposits] paid by the Financial Corporation out of such sum shall not be treated as expenditure incurred by it: Provided further that in the case of any shareholder such portion of a dividend as has been paid out of any such sum advanced by the State Government shall be deemed to be 5[his] income from "interest on securities" 6[and the income-tax shall be payable thereon as if it were the interest receivable on any security of a State Government issued income-tax free] within the meaning of section 8 of that Act.