Deduction of interest on borrowed capital for purchasing a house property .

My annual income from salary is Rs 13 L
Rental income after Std. deduction is Rs 1.5 L
Interest paid on Housing Loan is 3.8 L
Please suggest. How much amount is admissible for deduction under I T Act.
(1) Actual Rent paid Rs 3.8 L, or
(2) Rs 2.0 L and Rs 1.8 L will be CFL, or
(3) Rs 1.5 L upto the limit of Income from House property & rest amount of Rs 2.3 L will be CFL