(a) Mr. Sandeep, manager in CTL Pvt. Ltd. at Mumbai, furnishes following information for the year ended 31st March, 2025: Basic salary is ₹ 55,000 per month and entitled to a commission of ₹2,500 per month. A company owned accommodation is provided to him in Mumbai. Furniture costing ₹2,40,000 was also provided. He took a personal loan of ₹3,00,000 on 1st September, 2024 on which the interest @7.75% per annum was charged by the company. The entire loan is still outstanding. SBI rate of interest on 1" April, 2024 is 12.75%. Mr. Sandeep is the owner of a house property in Kolkata which he constructed during the financial year 2016-17. The property consists of four identical units. He occupied one unit for his residence and three units were let out at a rent of 20,000 per month per unit. The municipal value is 9,00,000 and the municipal tax was paid @ 20% of municipal value. Fair rent and standard rent are ₹7,50,000 and ₹ 8,50,000, respectively. One of the let out units was vacant for six months during the year. Interest on loan taken for construction of the house is ₹2,00,000. Compute total income of Mr. Sandeep for the A.Y. 2025-26 assuming he has opted out default tax regime u/s 115BAC(1A).

(b) Discuss the taxability with reason in the hands of recipient for the assessment year 2025-26 in respect of following receipts or income: (i) Mr. Ram received a sum of ₹5,00,000 from his father on Ram's wedding anniversary. (ii) Mr. Govind sold his house property to Mrs. Radha for₹ 1,25,00,000, whereas value determined by stamp valuation authority was *1,75,00,000. (iii) Ms. Agastha got a gift of car worth ₹ 7,00,000 from her friend on her wedding anniversary.