Whether it deduction allowed under home equity loans

Section 24 :
purpose of loan : Purchase/ Construction/ Repair/ Renewal/ Reconstruction of a Residential House Property.

deduction allowed is subject to a maximum limit of :
self occupied - 200,000
let out - no limit . full amount of interest.

Section 80C :
purpose of loan: construction or purchase of semi - constructed house and for its further construction.
Deduction for repayment of principal - 150,000 subject to conditions.

Section 80EE:
purpose of loan : purchase of residential house.

deduction in addition to section 24 & 80C

maximum deduction - 50,000 subject to conditions.

if the purpose is not as above mentioned. no deduction will be available.

80EE deduction only for interest on loan.

Can I claim IT deductions for both loans and how? You have only stated rules under each section, but please advise whether both loans can be declared?

You can't claim any deduction for home equity loans. it is a personal loan. your house is a security for the loan. the purpose is other than above mentioned. hence no deduction for your home equity loan is available both for payment of interest and repayment of principal.