1)Theoretically true, and subject to state laws relating to wild life. Also wild life listed by IUCN in red data book as endangered species but not listed in any schedule of our Act also can be considered with violations.
2)See the definition of Wild animal as given in the Act. I think it clears the doubt.
"captive animal" means any animal, specified in Schedule 1, Schedule II, Schedule III or Schedule IV, which is captured or kept or bred in captivity;
"wild animal" means any animal found wild in nature and includes any animal specified in Schedule I, Schedule II, Schedule, IV or Schedule V, wherever found;
3) Should clarify with the author of that aritice. He may have some points to justify his arguments. Read the disclaimer put by him at the end of that page.
4)Consideration given by law enforcement agencies so that their livelihood is not affected. Not only snake you can even see bears in street.
5)Permission was given to those who had kept them while the act was implemented. Fresh permits are not allowed as far as I know.