Mr. Rudra is engaged in the business of trading since 2018. His turnover for the P.Y. 2022-23 was 6 crores. His minor daughter's marriage is fixed…

Mr. Rudra is engaged in the business of trading since 2018. His turnover for the P.Y. 2022-23 was 6 crores. His minor daughter's marriage is fixed in December, 2023. He planned destination wedding in Goa for his minor daughter. For the wedding, he withdrew - 40,00,000 cash in the month of September, 2023 and - 65,00,000 cash in the month of October, 2023 from Hamara Paisa Bank. He booked 30 rooms for 5 days for the accommodation of his relatives in Raho Hotel and paid - 40,000 in cash as advance and balance by account payee cheque. He took the catering services of Tasty Caterers, a sole Proprietor, for the wedding for which he paid - 10,20,000 on 15.10.2023. For her wedding, he gifted his daughter a house property, purchased from SK Builders on 10.10.2023 by account payee cheque for 15,00,000. The stamp duty value of the property on 10.10.2023 is 16,00,000 and on the date of transfer to minor daughter is 20,00,000. Mr. Rudra paid - 45,000 in cash and balance in cheque to travel agent for the return ticket of some of his relatives to US. He regularly files his return of income. Based on the above information, choose the most appropriate option of the following Multiple Choice Questions (MCQs):-