solve as per Indian income tax with logic and section number

Question 8: Sankar Ltd, engaged in the manufacture of footwear and leather products, for the past 8 years, reported a net profit of 272 lakhs as per the statement of profit and loss for the of the Income tax Act, 1961. The company was subject to tax audit under section 44AB following amounts: Depreciation charged on the basis of useful life of assets as per Companies Act is 29 lakhs. (ii) A sundry creditor whose amount of 32 lakhs was outstanding since long time, (ii) has been settled for 26 lakhs on 31st March, 2024 based on compromise settlement. The amount waived has been credited to the statement of profit and loss. (iii) Employers' contribution to EPF of 3 lakhs for the month of March, 2024 was deposited on 29th July, 2024. (iv) Interest payments debited 30 lakhs (Includes interest on term loan of 25 lakhs availed on 01.04 .2023 at interest rate of 12% p.a towards purchase of machinery during the year). (v) Payment of 30 lakhs to A \& Co., a subcontractor, for processing raw leather without deduction of tax is debited to statement of profit \& loss. This amount includes 20 lakhs for purchase of chemicals and 10 lakhs towards labour charges which is separately shown in bills submitted. Additional Information: (1) The company has not made provision for an amount of 12 lakhs being a fair estimate of the amount as payable to workers towards periodical wage revision once in 3 years in respect of existing employees. The provision is estimated on a reasonable certainty of the revision once in 3 years. (2) The written down values of assets before allowing depreciation as per Income tou D.iloe are as under. It may be noted that the above values have been duly recognised while providing depreciation in the books of account. (3) During the year 2023-24, the company has employed 24 additional employees (qualified as "workman" under the Industrial Disputes Act, 1947). All these employees contribute to a recognized provident fund. 12 out of 24 employees joined on 01.06 .2023 on a salary of 23,000 per month, 4 joined on 01.07 .2023 on a salary of 26,000 per month, and 8 joined on 01.11 .2023 on a salary of 20,000 per month. The salaries of 2 employees who joined on 01.06 .2023 are being settled by bearer cheques every month. (4) Sales includes 5000 leather bags sold to M/s Sankar (firm), a related party, at a price of 1,000 each. The selling price to others in the market is at 1,300 each. (5) Employees contribution to EPF of 3 lakhs recovered from their salaries for the month of March 2024 and shown in the Balance Sheet under the head Sundry Creditors was remitted on 31st May, 2024. Compute the total income and tax payable of Sankar Ltd. for the Assessment Year 2024 25. The turnover of the company for the year ended 31.03.2022 was 350 crores. Assume that the conditions in proviso to section 44AB(a) are not fulfilled. Ignore the provisions of MAT