Section 45 - Wealth-Tax Act, 1957

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)		²⁸[Omitted by the Finance Act, 1992, w.e.f. 1-4-1993.]
(f)		any company registered under section 25²⁹ of the Companies Act, 1956 (1 of 1956);
³⁰[(g)		any co-operative society;]
³¹[(h)		any social club;]
³²[(i)		any political party.
		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;]
³³[(j)		a Mutual Fund specified under clause (23D) of section 10 of the Income-tax Act;]
^33a[(k)		the Reserve Bank of India incorporated under the Reserve Bank of India Act, 1934 (2 of 1934).]