estion 7 Mr. Raj makes a gift of Rs. 25,000 to his wife, Mrs. Rama, on 27.03.2023. Mrs. Rama, on 1.4.2023, invests Rs. 75,000 (Rs. 25,000 out of gift

estion 7 Mr. Raj makes a gift of Rs. 25,000 to his wife, Mrs. Rama, on 27.03.2023. Mrs. Rama, on 1.4.2023, invests Rs. 75,000 (Rs. 25,000 out of gift and Rs. 50,000 of her own) in a partnership firm as capital which is her total capital contribution in the firm. During the year ended 31.03.2024 she earns an interest of Rs. 12,000 and salary of Rs. 1,20,000 from the firm, both of which are approved by the partnership deed. What amount shall form part of total income of Mr. Raj for the previous year 2023-24? (a) Rs. 3,000 as interest on capital from firm (b) Rs. 4,000 as inferest on capital from firm (c) Rs. 3,000 as interest on capital from firm and Rs. 40,000 as salary from firm. (d) Rs. 4,000 as interest on capital from firm and Rs. 40,000 as salary from firm.