Interest paid on capital borrowed for the acquisition, Construction, Repair, Renewal or Reconstruction of Property is entitled to a deduction of maximum Rs. 200000. In case of self occupied or rented out property there is no limit of amount of deduction.
Can get a maximum deduction of Rs.150000 on the repayment of principal during a financial year. Stamp duty, registration fee or other such expenses paid for the purpose of transfer of such house property to the assesses is also considered under this amount.