Income tax home loan interest

Once home loan is issued its obligatory on the part of the person applying for loan to arrange the same.

Kindly elaborate.

Deduction of home loan can be easily availed one thru chapter vi interest part. Sec 24 is slow there.

Agreed with sabyasachi

You can claim of home loan interest rs 30000 under section 24b in following cases,
loan borrowed for any purpose before 01-04-1999.

loan borrowed after 01-04-1999 for any purpose other than construction or acquisition.

if construction is not completed within 5 years from the end of the financial year in which the capital was borrowed.