The Economic Times reports:
The University, its assets, its income and other property shall be exempted from all direct taxes, customs duties and prohibitions and restrictions on imports and exports for articles imported/exported for its official use.
The agreement also exempts the Vice-Chancellor and academic staff of the University from taxation in respect of their salaries, honoraria, allowances and other emoluments.
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Here's an earlier story about the architectural plans for this iconic "international" university.