Help Me plan my TAX on salary

1) Maximum exemption of HRA will be Rs. 42,840

2) Instead of Medical Allowances, u can luk for medical reimbursements exempt upto 15,000..

3) Ideal Investments u/s 80 C would be in ELSS Mutual Funds...

thanks dear..

how you arrived at this HRA exemption figure..please give a brief working

Exemptin of HRA will be LEAST OF THE FOLLOWING AMOUNT:-

1) AMOUNT OF HRA RECEIVED

2) 40% OF (BASIC + DA+ Fixed % on turnover) = 40%(1,07,100+0+0) = 42,840

3) rent paid-10%(BASIC + DA+ Fixed % on turnover) = 1,20,000 - 10%(1,07,100+0+0) =1,09,290

Therefore maximum anount that can be claimed is Rs. 42,840

Any body can give me share based accounting notes in financial reporting of ca final exam