Interest on housing loan

Jaimin (M Com, CA) (408 Points)

20 October 2014  
Can anybody advise me if I m a salaried person and I have purchased a new house in the name of my father. Now I have taken a housing loan in my name and paying interest on loan monthly. Can I get deduction of principal and interest under section 80C and section 24 respectively inspite of house being in my father's name? Plz advise thanks.