1[No tax shall be levied under this Act in respect of the net wealth of—]
2* * * * *
(f) any company registered under section 25 of the Companies Act, 1956 (1 of 1956);
3[(g) any co-operative society;]
4[(h) any social club;]
5[(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;]
6[(j) a Mutual Fund specified under clause (23D) of section 10 of the Income-tax Act;]
7[(k) the Reserve Bank of India incorporated under the Reserve Bank of India Act, 1934 (2 of 1934).]
1Subs. by Act 16 of 1972, s. 50, for “The provisions of this Act shall not apply to—” (w.e.f. 1-4-1972).
2Clauses (a) to (e) omitted by Act 18 of 1992, s. 99 (w.e.f. 1-4-1993).]
3Ins. by Act 16 of 1972, s. 50 (w.r.e.f. 1-4-1957).
4Subs. by Act 18 of 1992, s. 99, for clause (h) (w.e.f. 1-4-1993). Earlier clause (h) was inserted by Act 25 of 1975, s. 28 (w.r.e.f. 1-4-1957)
5Ins. by Act 29 of 1978, s. 3 (w.e.f. 1-4-1979).
6Ins. by Act 4 of 1988, s. 158 (w.e.f. 1-4-1988).
7Ins. by Act 23 of 2012, s. 118 (w.r.e.f. 1-4-1957).