) Mrs.Madhu is offered an employment by PVR Ltd. at a basic salary of 10
Rs.1,25,000 per month. Other allowance offered by the company includes:
Dearness allowance: 15 percent of the basic pay (not forming part of salary for
calculating retirement benefits)
Bonus Pay: 2 Months basic salary Project
allowance: 5 percent of basic pay
The company gives her an option either to take a rent free unfurnished
accommodation at Indore for which the company would bear the rent of
Rs.45,000 per month or to accept a house rent allowance of Rs.45,000 per month
and she can find out her own accommodation. She wants to invest Rs.60,000 in
Public Provident Fund and Rs.35,000/- in Reliance Tax Saver (ELSS) fund. As a
Tax Consultant, determine which one is a better option for Mrs.Madhu
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