Amendment of section 5

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....ousand rupees", the words "seventy-five thousand rupees" shall be substituted; (iii) clauses (viiia) and (viiib) shall be omitted; (iv) in clause (x), for the words "twenty thousand rupees", the words "fifty thousand rupees" shall be substituted; (v) after clause (xvib), the following clauses shall be inserted, namely :- '(xvic) in the case of an individual,....

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....d to be not resident in India during the year ending on the valuation date if in respect of that year the individual is not resident in India within the meaning of the Income-tax Act; (c) "convertible foreign exchange" means foreign exchange which is for the time being treated by the Reserve Bank of India as convertible foreign exchange for the purposes of the Foreign Regulation Act, 1973....