Section 80C

Although you can take home loans for more than one property, the amount of deduction u/s. 80C shall be restricted to Rs 1.5 lakhs for one self occupied house property. The overall amount of deduction, includes other items like provident fund contribution, life insurance premium, tuition fees, PPF contribution, NSC, ELSS, etc. However, for the second house property, no deduction is available for repayment towards the principal portion of housing loan under section 80C.