Act not to apply in certain cases.
145. 2[No tax shall be levied under
this Act in respect of the net wealth of—]
(a) to (e) 3[Omitted
by the Finance Act, 1992, w.e.f. 1-4-1993.]
(f) any company registered under section 254 of the Companies Act, 1956 (1 of 1956);
5[(g) any co-operative society;]
6[(h) any social club;]
7[(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;]
8[(j) a Mutual Fund specified under clause (23D) of section 10 of
the Income-tax Act.]