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45. Act not to apply in certain cases.
[No tax shall be levied under this Act in respect of the net wealth of—]
| (a) to (e) |
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[Omitted by the Finance Act, 1992, w.e.f. 1-4-1993.] |
| (f) |
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any company registered under section 25 of the Companies Act, 1956 (1 of 1956); |
| [(g) |
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any co-operative society;] |
| [(h) |
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any social club;] |
| [(i) |
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any political party. |
| |
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Explanation.—For the purposes of clause (i), "political party" shall have the meaning assigned to it in the Explanation to section 13A of the Income-tax Act;] |
| [(j) |
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a Mutual Fund specified under clause (23D) of section 10 of the Income-tax Act;] |
| [(k) |
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the Reserve Bank of India incorporated under the Reserve Bank of India Act, 1934 (2 of 1934).] |
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