I need some clarification regarding deduction available for Housing loan repayment.
Actually one of our employee has started construction of his flat and this construction will be completed by January 2013. He is paying an EMI of Rs.19500 (Principle + interest). Interest part varies on a monthly basis.
I just want to know how much deduction can be availed on this repayment of principle and interest for the current year 2010-11.
Can any one brief me about this?
CAclubindia
