From the following, calculate the taxable amount under the proper head of income for the Financial Year 2025-26 of Mr. Lalit, who is resident and 56…

Computation of taxable amount of Mr. Lalit for the A.Y.2026-27 Particulars ₹ (i) Dividend from LMN Ltd. – Dividend would be chargeable to tax under the head “Income from Other Sources”. [₹ 45,000/90%] 50,000 (ii) Advance of 1,00,000 forfeited on 1.5.2025 - The advance received and forfeited on or after 1.4.2014 would be subject to tax under section 56(2) (ix) under the head "Income from Other Sources". 1,00,000 (iii) Cash gifts from non-relative on marriage of son of 51,000 - Since gift is received by Mr. Lalit from a non-relative on the occasion of marriage of his son, it would be taxable in his hands under section 56(2) (x) under the head "Income from Other Sources". 51,000 (iv) Pension from employer of deceased wife of 99,000 - Pension after deducting lower of 33,000 i.e., 1/3 of such income or - 25,000, is chargeable to tax under the head "Income from Other Sources”. [₹ 99,000 - 25,000] 74,000 Taxable amount 2,75,000