The particulars given below are of Mr. Radhey's income (age 47 years) posted in a private company in Delhi, for the previous year 2023-24: (i) Basic Pay: ₹35,000 per month till January 31, 2024; ₹40,000 p.m. from February 2024. (ii) Dearness allowance: 30% of basic salary (54% of DA forms part of retirement benefits). (iii) Leave encashment for P.Y. 2023-24: ₹10,000. (iv) He received salary for the month of April 2024 in advance on 31st March 2024. Also, he received an arrear salary for the month of March 2023 on the same day. (v) His employer gave him a rent-free accommodation (fully furnished) in Delhi from 01.04.2019. This house is owned by his employer. During the previous year 2019-20, the perquisite value of such rent-free furnished accommodation was valued at ₹39,000. The employer also provided him with the facility of a gardener to maintain this house. The salary of gardener paid by the employer was ₹1,000 p.m. The furniture and appliances provided with the house were bought by the employer at an aggregate cost of ₹1,50,000 on 01.01.2020. Electricity and water bills of ₹4,000 p.m. for the said house were paid by the employer. Cost Inflation Index: F.Y. 2019-20 = 289, F.Y. 2020-21 = 301, F.Y. 2023-24 = 348. (vi) The employer also spent ₹50,000 on a refresher course for upgrading Mr. Radhey's skills. (vii) During the previous year his wife had been admitted in a notified hospital for treatment of her kidney disease, the hospital bills amounting to ₹3,50,000 were paid by the employer. You are required to compute the taxable salary income of Mr. Radhey for the Assessment Year 2024-25 assuming that he has opted out of the default tax regime under section 115BAС.

Mr. Raj, a resident individual, aged 69 years, sold an urban agricultural land for ₹75,00,000 to Mr. Vipul on December 15, 2023 when the stamp duty value of agricultural land was ₹95 lakhs. However, the “agreement to sell" the agricultural land was entered on July 15, 2023 and Mr. Vipul gave ₹4 lakhs as advance through IMPS. The stamp duty value at the time of agreement was ₹85 lakhs. Mr. Raj paid 1% of sale consideration as commission to a broker. The land was purchased by him on May 15, 2002 for ₹10.85 lakhs and it was being used for agricultural purposes by him since its purchase. Mr. Raj purchased another agricultural land in rural area on January 1, 2024 for ₹40 lakhs and this land was sold by him on March 12, 2024 for ₹45 lakhs and he invested the entire sale proceeds in fixed deposits with a nationalized bank on the same day. Compute capital gain for assessment year 2024-25 if Mr. Raj exercises the option of shifting out of the default tax regime provided under section 115BAC(1A). Cost Inflation Index for: F.Y. 2002-03 = 105; F.Y. 2023-24 = 348.