Mr. Nitin a citizen of India, who lives in Singapore and a non-resident for the AY 26-27 for the purpose of taxation under the Indian Income-tax Act…

Mr. Nitin a citizen of India, who lives in Singapore and a non-resident for the AY 26-27 for the purpose of taxation under the Indian Income-tax Act has furnished the following information in respect of the said assessment year: (i) Dividend from TLT Ltd., an Indian Company (gross) of 3,60,000 (ii) Interest on debentures of SLL Pvt. Ltd., an Indian Company, (subscribed in convertible foreign exchange) of 3,70,000 (gross). (iii) Interest expenses of 60,000 and - 40,000 respectively incurred on loan taken for purchase of shares of TLT Ltd. and for purchase of debentures of SLL Pvt. Ltd. (iv) On 15th March 2026, he sold shares of Tix Ltd. (an Indian public company) for 18,25,000 which were subscribed in convertible foreign exchange on 10th June 2004 in dollars equivalent to 4,65,000. Expenditure of 7,000 were incurred in connection with sale of the said shares at the time of sale. Out of the sale proceeds of shares, he invested - 4,80,000 on 30th April 2026 for purchases of listed shares of an Indian Company Next High Ltd. [Cost Inflation Index: FY 04-05-113; FY 25-26-376] (v) ₹ 4,00,000 Interest on Income Tax Refund for FY 24-25 credited in his designated Bank Account. From the facts given above, choose the most appropriate answer to the following Multiple-Choice Questions (MCQs No 6 to 8):