A person having a property in a area suffering with high vacancies. The property has 4 portions of which 2 are?

A Person has a property in a area plagued by high vacancies.There are 4 portions out of which one is leased out XYZ co. whose lease term ends at the end of year and another one leased to other firm which extended its lease period for another 2 years at amount lower than previous agreement. The person has hired a broker to fill up the other two vacant portions. Suggest him how to retain the existing tenants, and how to attract other tenants for vacant portions, so that he earns profit without incurring loss?

A.Income 1200000, what would be the Income tax and please suggest how much the person can save @ max.?

Components of salary Eligibility Declaration
(Declarations should be made for the entire year) Rs. Rs.

Basic 480,000 480,000
House Rent Allowance 192,000 192,000
Employer Contribution to Provident Fund 57,600 57,600
Medical Allowance 15,000 15,000
Leave Travel Allowance 40,000 40,000
Food coupons 13,200 13,200
Transport Allowance
Personal pay (residual) 402,200 402,200
Gross Salary 1,200,000 1,200,000
My Bad i forgot to add these information. I am salaried, male, Indian Rupees, not a senior citizen, citi is delhi, for financial year 2008-2009…please let me know if anything is missing