Mr X purchased a house of 38 lakhs on 15-3-17 by paying 1 lakh as booking amount. Ownership will be tranferred to Mr X on payment of full amount.
Mr X paid 7 lakh for first installment on 15-4-17
He took home loan of 30 Lakhs from bank in july 2017. Bank paid installment of around 12 lakhs during fy 17-18.
Mr X has not paid any amount to bank in fy 17-18 as they have agreed for loan repayment after 18 months.
Is Mr X eligible for any deduction in fy 17-18 under the head House Property and 80CCC.
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