dear Mr Vijay, The admissable deductions are (1) Rs.12,000.00 under Setion 24(b) of IT Act towards Interest for Housing Loan which is deducted from your Taxable Income. The upper limit is Rs.1,50,000 for Housing loans obtained after 1999 and prior to that is Rs.30000. (2) The Principal of Rs.12,000 paid towards housing loan is counted towards Section 80C, the upper limit being Rs.1,00,000 (3) The Registeration Charges and Fees incurred on the House of Rs.10,000 is also exempt under Section 80C, the upper limit being 1,00,000. L/Cdr GK Balaji
