Mr. Prakash, a citizen of India, requires professional guidance to file his income tax return for the F.Y. 2025-26. He has provided the following…

Mr. Prakash, a citizen of India, requires professional guidance to file his income tax return for the F.Y. 2025-26. He has provided the following financial and travel records of the P.Y 2025-26. He possesses a residential property in Hyderabad which is let out to Mr. Bikas, a salaried employee, for a monthly rent of ₹ 75,000. Mr. Prakash claims that this rental income constituted his sole source of earnings during the P.Y. 2025-26. However, his bank statements revealed additional transactions. First, a total credit of ₹ 23,975 was received as an income-tax refund, which includes ₹ 5,775 as interest on the refund. Second, ₹ 55,000 was credited on 15th August 2025 in his bank account. Mr. Prakash specified this was a cash gift presented by his grandchildren on the occasion of his 60th birthday. A detailed inspection of his passport and entry/exit stamps indicates a trip taken with his spouse to Singapore to visit their son. The departure from India was on 27th September 2025, and the return to India was on 31st March 2026. During the 4 financial years immediately preceding P.Y. 2025-26, he stayed in India for 320 days in total. Prior to those 4 years, his stay was exclusively within India.