Mars Ltd. is a manufacturing enterprise which is starting a new manufacturing plant at X Village. It has commenced construction of the plant on…

Mars Ltd. is a manufacturing enterprise which is starting a new manufacturing plant at X Village. It has commenced construction of the plant on April 1, 2023 and has incurred following expenses: It has acquired land for installing Plant for 50,00,000It incurred - 35,00,000 for material and direct labour cost for developing the Plant.The Company incurred - 10,00,000 for head office expenses at New Delhi which included rent, employee cost and maintenance expenditure.The Company borrowed - 25,00,000 for construction work of Plant @12% per annum on April 1, 2023. Director finance of the Company incurred travel and meeting expenses amounting to 5,00,000 during the year for arranging this loan.On November 1, 2023, the construction activities of the plant were interrupted as the local people alongwith the activists have raised issues relating to environmental impact of plant being constructed. Due to agitation the construction activities came to standstill for 3 months.With the help of Government and NGOs, the agitation was over by February 28, 2024 and the work resumed. However, to balance the impact on environment, government ordered the company to install certain devices for which the Company had to incur - 6,00,000 in March 2024.The rate of depreciation on Plant is 10%. Based on the above information, answer the following questions.