(1)Where under any covenant or agreement entered into by the Ruler of any Indian State before the commencement of this Constitution, the payment of any sums, free of tax, has been guaranteed or assured by the Government of the Dominion of India to any Ruler of such State as privy purse—(a)such sums shall be charged on, and paid out of, the Consolidated Fund of India; and(b)the sums so paid to any Ruler shall be exempt from all taxes on income.
