Ans.The deduction for home loan can be claimed under 3 different sections as follows :
|Section||Amount of Deduction||Deduction Available on
|80 C||Maximum Rs.150000||Principal repayment of Home loan|
|24||Maximum Rs.200000(For Self Occupied House Property)|
No limit- For not self occupied house
|Interest on Home loan|
|80EE||Maximum Rs.50000 (For first time home buyers)||Interest on Home Loan provided the loan is sanctioned between 1.4.16 to 31.3.17|
For further details regarding Home loans you can refer Home loans-Facts to know !