Exclusion of assets and debts outside India

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....resident but not ordinarily resident in India, or of a company not resident in India during the year ending on the valuation date ^      ^     (i)  the value of the assets and debts located outside India ; and ^      ^     (ii) the value of the assets in India represented by any loan....

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....y any debt owing to him, being any moneys to his credit in a Non-resident (External) Account, the interest payable on which is not to be included in his total income under ^5[sub-clause (ii) of clause (4)] of section 10 of the Income-tax Act, the provisions of this section shall, in relation to such asset, apply subject to the modification that the reference in this section to an individual not re....