Mr. Sugam, a resident Indian aged 61 years, has income of 48 lakhs under the head "Profits and gains of business or profession”. One of his…

Mr. Sugam, a resident Indian aged 61 years, has income of 48 lakhs under the head "Profits and gains of business or profession”. One of his businesses is eligible for deduction @100% of profits under section 80-IB for A.Y. 2024-25. The profit from such business included in the business income is 20 lakhs. What would be the tax liability (computed in the most beneficial manner) of Mr. Sugam, assuming that he has no other income during the P.Y. 2023-24.