Income tax deduction for construction of house

A couple (husband and wife) co-jointly own a piece of land. Both husband and wife are constructing a house on the piece of land. Both husband and wife are paying for the construction of the house on the piece of land. Husband is a consultant and a retd. govt. official and the wife is a house wife. Both of them are income tax payees. Can  the husband and wife claim income tax deductions under the Income Tax Act, 1961? If yes, under what sections?