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Section45
The Wealth-tax Act, 1957

Act not to apply in certain cases

Spent From 01 Apr 1957 Act 27 of 1957 As on 17 Oct 2026

Act 27 of 1957 Ministry Finance Enacted 12 Sep 1957 In force 01 Apr 1957 Cited by 3 provisions

Section 45 of the Wealth-tax Act, 1957 deals with act not to apply in certain cases. [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); The Act came into force on 01 Apr 1957.

[No tax shall be levied under this Act in respect of the net wealth of—]

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* (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).]

Section 45, The Wealth-tax Act, 1957 (Act 27 of 1957).

Cross-references

Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.

This section refers to

  1. Income-tax Act s. 10 Incomes not included in total income
  2. Income-tax Act s. 13A Special provision relating to incomes of political parties

Referred to by 3

  1. Finance Act s. 50 Amendment of section 45
  2. Finance Act s. 28 Amendment of section 45
  3. Finance Act s. 118 Amendment of section 45

Questions about Section 45

What does Section 45 of the Wealth-tax Act deal with?

Section 45 of the Wealth-tax Act is headed "Act not to apply in certain cases". [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);

How do I find court cases under Section 45 of the Wealth-tax Act?

In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Wealth Tax Act 45, section 45 Wealth Tax Act, section 45 of the Wealth-tax Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.

What should I read with Section 45 of the Wealth-tax Act, and has it changed?

Its own text turns on Income-tax Act 10 (Incomes not included in total income), Income-tax Act 13A (Special provision relating to incomes of political parties), so none of them can safely be read on its own. 3 other provisions in this corpus refer back to it.

When did Section 45 of the Wealth-tax Act come into force?

Section 45 of the Wealth-tax Act, cited as Wealth Tax Act 45, came into force on 01 Apr 1957, having been enacted on 12 Sep 1957. It is in force as at the date shown on this page.

Other sections of this Act

Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Recovered from the consolidated text published by India Code on the Act's own item (3fd2ecf9-23b2-4ae9-b5fe-a23fd3c0080f). India Code lists this Act but publishes no sections for it, so there was nothing to harvest, only a document to read. This page is not a substitute for legal advice.