The following details pertain to Mr. Sahil and his best friend Mr. Akhil: Mr. Sahil Particulars Amount (₹) Amount remitted to his elder son Aarav,…

The following details pertain to Mr. Sahil and his best friend Mr. Akhil: Mr. Sahil Particulars Amount (₹) Amount remitted to his elder son Aarav, who is pursuing two-year MBA Program from Columbia University, USA Out of own savings through HDFC Bank, an authorized dealer under Liberalized Remittance Scheme (LRS) of the RBI towards tuition fees on 5.7.2023to meet day to day expenses for study purposes 3,50,000 10.5.202329.9.202301.1.2024 1,20,000 90,000 1,35,000 Through Axis Bank, an authorized dealer under Liberalized Remittance Scheme (LRS) out of loan (towards tuition fees) on11.10.202310.01.2024 3,50,000 3,50,000 Own savings (to meet day to day expenses) on 1.7.2023 1,50,000 To complete the formalities of admission, Mr. Sahil visited the USA from 10.4.2023 to 13.4.2023 for which he purchased a tour package from M/s Gate 2 Travel, a foreign tour operator and remits money under LRS on 5.4.2023. International travel tickets and hotel accommodation are included in the said package. 5,20,000 Mr. Sahil has furnished undertakings containing the details of earlier remittances to HDFC bank and Axis bank. He has also furnished his PAN to the authorized dealers and to the seller of overseas tour program package. Mr. Akhil Mr. Akhil, an Indian citizen got a job offer from M/s Wellbeing Inc., a Dubai-based company of AED 10,500 per month. He left for Dubai on 29.3.2023 and joined M/s Wellbeing Inc. on 1st April 2023. He returned to India on 15.12.2023 on leaves for 15 days. On 23.12.2023, he went on 7 days tour to Bali with his wife and son. Thereafter, he directly went to Dubai with his wife and son. On 16.12.2023, he purchased a tour package for Bali from Make Your Trip, an Indian tour operator for which he paid - 7,50,000 towards flight tickets and hotel accommodation. During F.Y. 2023-24, he has business income of 4,20,000 from a retail shop in India and interest on fixed deposit and savings account with Canara Bank of 1,20,000 and - 8,000, respectively. He is not liable to pay any tax in Dubai. Assume 1 AED = 23. From the information given above, choose the most appropriate answer to Q. 1 to Q. 6: