45. Act not to apply in certain cases .- [No tax shall be levied under this Act in respect of the net wealth of-]
[* * *] [ Clauses (a) to (e) omitted by Act 18 of 1992, Section 99 (w.e.f. 1.4.1993).](f)any company registered under section 25 of the Companies Act, 1956 (1 of 1956);(g)[ any co-operative society;] [ Inserted by Act 16 of 1972, Section 50 (w.r.e.f. 1.4.1957).](h)[ any social club;] [ Substituted by Act 18 of 1992, Section 99, for Clause (h) (w.e.f. 1.4.1993).](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 13-A of the Income-tax Act;] [ Inserted by Act 29 of 1978, Section 3 (w.e.f. 1.4.1979).](j)[ Mutual Fund specified under clause (23-D) of section 10 of the Income-tax Act.] [ Inserted by Act 4 of 1988, Section 158 (w.e.f. 1.4.1989).]
