(a) (A) What is the meaning of Micro arid Small Enterprise u/s 43B of Income Tax Act, 1961? (B) Mr. Prem has following assets as on 01.04.2023 : (i) A machinery costing ₹ 4 lakh, which was used for scientific research related to business and deduction u/s 35 was allowed ₹ 40,000. (ii) A laptop received as a gift from his friend costing ₹ 60,000. It was purchased on 01.04.2022 by his friend. (iii) A temporary wooden structure costing ₹ 70,000 erected in Dec. 23 which was used for business purposes. Compute the depreciation allowed on these assets for F.Y. 2023-24.

(b) Mr. X, age 83 years, a resident individual, gives the following particulars of his receipts for A.Y. 2024-25 : 1.Installment received from the bank under reverse mortgage arrangement₹1,50,000 2.Interest on bank term deposits₹2,00,000 3.Interest on bank saving a/c₹45,000 4.Pension from Central Govt.₹4,50,000 5.STCG on sale of dining table and chairs₹1,00,000 6.Income from dairy farming on his rural agricultural land₹50,000 Compute his total income and Income Tax thereon for A.Y. 2024-25 considering that assessee has opted out of Default tax regime.