housing loan

Further supplement to Sri subba Raos clarification, payment of principle is allowable under section 80 (C) up to a maximum of Rs. 1 lack. 

For the purpose of Income from House Property, You may have to declare only one house as Self Occupied and others as let out and u should declare rent receved as income.  It you have more amount on accoun of interest on borrowed capital, U can claim Rs. 1, 50,000/- limit in respect of only one house which is to be declared as Self Occupied.  Others u have to declare as let out where other provisions like property tax, annual value etc., would come into picture.