(3)"debtor" means any person from whom any debt is due: Provided that a person shall not be deemed to be a debtor, if he,-(i)has in both the financial years ending on the 31st March 1972 been assessed to income-tax under the Income-tax Act, 1961 (Central Act 43 of 1961) or under the income-tax law in force in any foreign country; or(ii)has, in all the four half-years, immediately preceding the 1st March 1972 been assessed to profession tax on a half yearly income of more than one thousand and two hundred rupees derived from a profession other than agriculture under the Tamil Nadu District Municipalities Act, 1920 (Tamil Nadu Act V of 1920), the [Chennai] [Substituted for the words 'Madras' by the City of Madras (Alteration of Name) Act, 1996 (Tamil Nadu Act 28 of 1996).] City Municipal Corporation Act, 1919 (Tamil Nadu Act IV of 1919), Chennai City Municipal Corporation Act, 1971 (Tamil Nadu Act 15 of 1971), the [Tamil Nadu Panchayats Act, 1958 (Tamil Nadu Act XXXV of 1958)] [This Act was repealed and re-enacted as the Tamil Nadu Panchayats Act, 1994 (Tamil Nadu Act 21 of 1994).], the [Cantonments Act, 1924 (Central Act II of 1924)] [This Act was repealed and re-enacted as the Cantonments Act, 2003.] or any law governing municipal or local bodies in this State or in any other State or Union territory in India; or(iii)has in all the four half-years immediately preceding the 1st March 1972 been assessed to property or house tax in respect of buildings or lands other than agricultural lands, under the [Chennai] [Substituted for the worth, 'Madras' by the City of Madras (Alteration of Name) Act, 1996 (Tamil Nadu Act 28 of 1996).] Nadu District Municipalities Act, 1920 (Tamil Nadu Act V of 1920), the [Chennai] [Substituted for the words 'Madras' by the City of Madras (Alteration of Name) Act, 1996 (Tamil Nadu Act 28 of 1996).] City Municipal Corporation Act, 1919 (Tamil Nadu Act IV of 1919), the Madurai City Municipal Corporation Act, 1971 (Tamil Nadu Act 15 of 1971), the [Tamil Nadu Panchayats Act, 1958 (Tamil Nadu Act XXXV of 1958)] [This Act was repealed and re-enacted as the Tamil Nadu Panchayats Act, 1994 (Tamil Nadu Act 21 of 1994).], the [Cantonments Act, 1924 (Central Act II of 1924)] [This Act was repealed and re-enacted as the Cantonments Act, 2003.] or any law governing municipal or local bodies in this State or in any other State or Union territory in India, provided that the aggregate annual rental value of such buildings and lands, whether let out or in the occupation of the owner, is not less than rupees one thousand and two hundred.Explanation. - The annual rental value of any building of land for the purposes of proviso (iii) shall,-
