Section 5 - Amendment of section 10

Exemption scope expanded for non-resident royalties and technical service fees; related clause definitions and exclusions revised.

Amendments to section 10 add an exemption for income to non-residents (not being companies) by way of royalty or fees for technical services rendered to the National Technical Research Organisation; broaden a clause term from 'employee' to 'assessee'; add a proviso making specified disallowance and payment provisions apply mutatis mutandis when determining amounts of application; exclude certain long-term capital gains from a clause where arising from transfers of equity shares, equity-oriented fund units, or business trust units; and insert clarifying phrases expanding scope and covering payments on termination of agreements.