Tax exemption: net wealth of specified entities excluded from wealth-tax under the Act, including political parties and mutual funds. No tax shall be levied under this Act on the net wealth of certain specified entities: companies registered under the relevant companies provision, cooperative societies, social clubs, political parties (as defined by the referenced tax provision), mutual funds specified under the income tax provision, and the national central banking institution.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Tax exemption: net wealth of specified entities excluded from wealth-tax under the Act, including political parties and mutual funds.
No tax shall be levied under this Act on the net wealth of certain specified entities: companies registered under the relevant companies provision, cooperative societies, social clubs, political parties (as defined by the referenced tax provision), mutual funds specified under the income tax provision, and the national central banking institution.
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