Wealth-tax exemption for one residential house or part thereof for individuals and HUFs introduced by amendment. An amendment inserts a clause into section 5(1) of the Wealth-tax Act adding a specific exemption: one house or part of a house belonging to an individual or a Hindu undivided family, effective from the stated commencement date, thereby expanding the statutory categories in section 5(1) to include that residential property as an enumerated item.