(a) Following are the details of the fixed assets of XYZ Company. Beginning written down value block C Rs. 500,000 Beginning written down value block D Rs. 500,000 The company has purchased a new…

(a) Following are the details of the fixed assets of XYZ Company. Beginning written down value block - C Rs. 500,000 Beginning written down value block - D Rs. 500,000 The company has purchased a new plant & machinery as on 10^th Jestha Rs. 600,000 The company has also purchased two second hand Maruti cars on 1^st Ashwin, worth Rs. 300,000 each. Repair and maintenance cost incurred during the year under block D Rs. 100,000 and Block C for Rs. 60,000. During the year company has sold a small part of plant and machinery having book value. Rs. 90,000 sold for Rs. 100,000. Required : a Allowable depreciation b. Value of fixed asset at the end of the fiscal year. (b) Following are the profit and loss position of a firm for the previous income year : Years56789Profit20,00080,000155,000170,000600,000 Additional information a. On scrutiny, it revealed that profit of the 9^th year was derived before deducting research and development and donation Rs. 132,500 and Rs. 50,000 respectively. b. The company had unabsorbed loss of 1^st year, 2^nd year, 3^rd year, and 4^th year Rs. 600,000, Rs. 75,000, Rs. 50,000 and Rs. 25,000 respectively. Required : Taxable income and explanation wherever is necessary.