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<h1>Deduction for home loan interest allowed for eligible individuals subject to sanction, property value and ownership conditions.</h1> An individual ineligible for the prior deduction may claim an annual capped deduction for interest on a loan from a defined financial institution for acquiring a residential house, subject to loan sanction within a specified period, a stamp duty value ceiling for the property, and the assessee not owning any residential house at loan sanction; the same interest cannot be deducted under any other provision.