You can save your tax claiming your interest and principal payment as a deduction.
Interest paid on house loan is allowed deduction under section 24. So you can reduce such interest expense from your income up to two lacs.
In addition to this section additional deduction up to Rs. 50,000 on interest paid for loans shall be allowed under section 80EE.
Further, principal amount paid towards the house loan is allowed to deduct up to the one lac fifty thousand.
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