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)[Omitted by the Finance Act, 1992, w.e.f. 1-4-1993.]
(f) any company registered under section 25 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).
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