Claiming income tax exemption on 1st home loan (loan free)

when did u take the home loan and was it for fully or under constructed house, when did it start?

I took loan for a ready to move in property. The loan was taken 8yrs back

INTEREST :(house property head) SECTION 24

See all the conditions to claim interest upto Rs. 2 lakhs in 1 self occupied House Property:

a. The home loan must be for purchase and construction of a new property

b. The loan must be taken on or after 1 April 1999

c. The purchase or construction must be completed within 3 years from the end of the financial year in which the loan was taken.

PRICIPLE REPAYMENT:80C

Deduction of principal repayment is available up to Rs. 1,50,000.

80EE Deduction (over & above sec.24)- NOT ELIGIBLE

Loan has not been sanctioned between 01.04.2016 to 31.03.2017, hence deduction u/s 80EE for Interest on Home Loan upto 50000 is NOT available.