Ltcg on sale of two residential house

Prateek Bansal (Article) (41 Points)

09 August 2014  
i have a old big residential house, if i sell 1part of house property in the yr 2013 for 10lakhs, nd i purchase a house property for 1cr in 2014 via loan of 90lakh, then sell another part of old house in 2015 for 1.4cr. out of which i repay the loan. so will i be able to claim principal amt paid to bank as deduction u/s 80c nd interest u/s 24? nd will i also be able to get the deduction u/s 54 against the total of 1.5cr (1.4cr+10lakh) for expenditure of 1cr?