Question: I need the answer as soon as possible Burewala Express Limited (BEL) is in the business of manufacturing and sale of component parts for automobile
I need the answer as soon as possible 
Burewala Express Limited (BEL) is in the business of manufacturing and sale of component parts for automobile assembly industry. On 1 January 2015, BEL took a loan of US$ 1,000,000 from GHI Bank, USA, which was utilized for purchasing the plant. The loan is repayable in 10 equal instalments in US Dollars. The rate of exchange on 1 January 2015 was US$ 1 equal to Rs.98 and the loan liability was recorded in the books of account of BEL at Rs. 98,000,000. Other information: 2. 1. The Project was completed in June 2016, but was only commissioned for use on 31 July 2016. The total amount spent by BEL on the plant was Rs.200,000,000 On 1 July 2016, the Government of Pakistan (GOP) voluntarily paid BEL Rs. 10,000,000 as a subsidy in respect of the plant installed in the Project. 3. The first instalment of US$ 100,000 towards repayment of the US Dollar loan was paid to GHI Bank on 30 June 2017. The rupee equivalent of US$ 100,000 at the then rate of exchange was Rs.10,000,000 (US$ 1= Rs.100). Required: Calculate the initial allowance, depreciation and written down value of the plant on 30 June 2016 for preparing the tax return for tax year 2017
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