Mr. Joshi, resident Indian, aged about 58 years, furnished the following details of his income for the previous year 2023-24: (i) Income from House property (computed) ₹2,00,000. (ii) Income from Proprietary Business ₹3,00,000. (iii) Short Term Capital Gain on sale of Land ₹2,00,000. (iv) Short Term Capital loss on sale of equity shares listed in recognized stock exchange (STT paid) ₹75,000. (v) Interest on Bank fixed deposit ₹50,000 received by his son, aged 21 years, out of money gifted by Mr. Joshi in 2022. (vi) Loss from Speculation Business ₹40,000. (vii) Loss from Owning and Maintenance of Race Horses ₹50,000. **Following are the brought forward losses:** (a) Brought forward House property loss of assessment year 2021-22 ₹2,50,000. (b) Brought forward business loss of Proprietary business from assessment year 2013-14 ₹50,000. (c) Unabsorbed Depreciation relating to assessment year 2014-15 ₹1,00,000. (d) Brought forward Long Term Capital Loss from assessment year 2018-19 ₹90,000. Return of income for that year was filed on 31.01.2019, after due date of filing the return. Compute the total income of Mr. Joshi for the assessment year 2024-25 and show the items eligible for carry forward, assuming that he exercises the option of shifting out of the default tax regime provided under Section 115BAC(1A).

State with reason whether the following persons are required to file their return of income as per the provisions of the Income Tax Act, 1961 for the assessment year 2024-25: (i) Mr. Aneesh aged 31 years, who opted for default tax regime u/s 115BAC(1A) had a total income of ₹2,90,000 for the previous year 2023-24. (ii) Smt. Patel, aged 65 years, has a TDS credit of ₹55,000 during the previous year 2023-24. (iii) The gross receipts of Mr. Ajit, aged 45 years, an architect for the previous year 2023-24 was ₹12,00,000, but his profit from profession was only ₹2,25,000 and he has no other income.

CBDT has vide Notification No. 37/2022 dated 21.04.2022, inserted Rule 12AB, notified which are all the person other than a company or firm who is not required to file return of income under Section 139(1) must file the return of Income. State who are required compulsorily to file return of Income.