Mortgage loan interest and principal under which heading to be deducted

Shanthi (Junior Student) (226 Points)

06 August 2023  

Sir/Madam

For last financial year my client  paid

Rs 2 lakhs as principal and 

Rs 7 lakhs as interest 

The loan is taken on mortgage of client's apartment

Can it be considered housing loan?

So when declaring IT under which section and how much can be claimed as deduction

  1. Re-payment of housing loan etc
  2. Interest payable on loan for residentials house property (u/s 80EEA )
  3. Interest on loan taken for Residential House (u/s 80EE)

Which section will apply? and how much?

Thanks a lot

Shanthi