The gross total income as computed under the Income Tax Act for A.Y. 2023- 2024 of Mr. Sarjerao is Rs. 4,00,000 (excluding Agriculture income). He deposits Rs. 1,20,000 in PPF and Rs. 30,000 in the National Savings Certificate VIII series. His agricultural income is Rs. 2,50,000, the tax payable by him will be

1
Rs. 31,200
2
NIL
3
Rs. 9,790
4
Rs. 7,800

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