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.]