Mr. Deepak gifted 15 lakhs to his wife, Natasha, on her birthday on 22nd January, 2025. Natasha lent - 6,00,000 out of the gifted amount to Deepika…

Mr. Deepak gifted 15 lakhs to his wife, Natasha, on her birthday on 22nd January, 2025. Natasha lent - 6,00,000 out of the gifted amount to Deepika on 1st April, 2025 for six months on which she received interest of 40,000. The said sum of 40,000 was invested in shares of a listed company on 12th November, 2025, which were sold for 76,000 on 25th March, 2026. Securities transactions tax was paid on purchase and sale of such shares. The balance amount of gift was invested on 1st April 2025, as capital by Natasha in her new business. She suffered loss of 50,000 in the business in F.Y. 2025-26. Natasha is working with a private company as sales executive at a salary of 62,000 p.m. She paid - 3,500 p.m. towards tuition fees for her daughter Dhanvi studying in St. Thomas School, Mumbai. Deepak is working with an MNC on a monthly salary of 64,000. He has gifted - 1,25,000 to Dhanvi on her 13th Birthday. This amount is deposited as 2 years term deposits with SBI bank in her name on which interest of 11,500 is earned during the previous year 2025-26. Both Mr. Deepak and Mrs. Natasha opted out of the default tax regime. Based on the facts of the case scenario given above, choose the most appropriate answer to the following questions: