- Section 207 of the Income-tax Act shall be renumbered as sub-section (1) thereof and after sub-section (1) as so renumbered, the following sub-section shall be inserted, namely: -'(2) The provisions of sub-section (1) shall not apply to an individual resident in India, who -(a)does not have any income chargeable under the head "Profits and gains of business or profession"; and(b)is of the age of sixty years or more at any time during the previous year.'.
