Deduction for home loan interest limited by eligibility and property/loan ceilings; available across two assessment years. Deduction for interest on a residential home loan is allowed to individual taxpayers for interest payable on loans from defined financial institutions for acquisition of a residential house, subject to a monetary ceiling per assessment year with any unutilised amount carried to the next assessment year. Eligibility requires loan sanction within the prescribed period, the sanctioned loan and house value not exceeding specified ceilings, and that the assessee did not own a residential house on the loan sanction date. The same interest cannot be claimed under other provisions.