I have taken property purchase loan from Nationalized Bank, whether any exemption for principal or interest amount comes under Income Tax Act, as provided in Hone loan
Yes for interest you can get an deduction upto 2lacs under section 24 and towards principal of 150000 under 80C. you need to get the certificate from bank for interest and principle paid during the year as you might require to produce to the dept if they demand.
CAclubindia
