# The Wealth-tax Act, 1957, Section 45: Act not to apply in certain cases

- Act: The Wealth-tax Act, 1957 (Act 27 of 1957)
- In force from: 1957-04-01
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/wealth-tax-act/section/45/

## Text

[No tax shall be levied under this Act in respect of the net wealth of—] * * * * (f) any company registered under section 25 of the Companies Act, 1956 (1 of 1956); [(g) any co-operative society;] [(h) any social club;] [(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;] [(j) a Mutual Fund specified under clause (23D) of section 10 of the Income-tax Act;] [(k) the Reserve Bank of India incorporated under the Reserve Bank of India Act, 1934 (2 of 1934).]

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Published by eCourtsIndia together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957.