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
Reimbursements:
Fuel
Mobile
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

I intend to save maximum income tax from my salary. How is it possible.?

I am 49 year old male working in Central Government of India in one of the A1 class city. MY salary details for the year 2010-11 are as follow.(figures represent total earnings for the year)
basic pay Rs 219060
Grade pay Rs 57600
HRA RS46290
DA Rs 115401
TA Rs 12800
DA ON TA 5440
TOTAL Rs 456591

I was saving an amount of Rs 2000 towards GPF subscription from 3/20010 to 10/2010 and from 11/10 I have to increase it according to my tax requirements.

I am paying interest for the purpose of higher studies of my son in Canada who is studying an advance diploma in electronics which is of post secondary level as per canadian standard but admission is given in this course only to those who have completed 15 years of education in India.

I am having an own house in the city which will be used by my daughter and her in laws and for this purpose I will not be charging rent.

I am staying in a rented accumulation for which I am paying rent of rs 7000/- pm.

My questions are.
What is the best way to save income tax and to what maximum extent I can save tax.

Whether I can claim HRA exemption in presence of my own house which is given to my daughter without rent and that I am residing in a own house.

My mother is a family pensioner who is drawing a Gross pension of about Rs 4700/-. Whether any amount invested for her treatment is eligible for deduction from taxable income. Is she dependent upon me and for what purposes she is dependent upon me.

What are the other ways for saving income tax from my salary.

Apart from saving in GPF what are the other ways to save to get deduction other than Rs one lakh which is elegeble under section 80C. (eg any ELSS scheme). How to select good scheme which will be useful for my son who has completed his engineering and who is in the age of 24 years.

Best possible investment to save as much taxes?I am a 28 year male with a CTC of 12.5 lakhs and I was hopi?

I am a 28 year male with a CTC of 12.5 lakhs and I was hoping you can help me with use of a case study on what the best investments could I make to save maximum taxes based on the latest budget recommendations. I already have a housing loan with an exemption of 1.5 lakh. Besides this I have no other investments to save taxes..I have no children and dependants as well..I was hoping in having a mix of Public PF, Postal savings, some insurance covers, medical insurance etc which would help me in saving the maximum taxes for the upcoming financial year. My whole agenda is to invest amounts that I would otherwise pay as taxes rather than investing anything from my pocket 🙂 I would appreciate if anyone could give me actual breakup of the amounts I need to invest to save taxes. Thanks in Advance..