u/s 24 deduction

john (LEARNER) (549 Points)

25 May 2010  

Mr. x  has taken a home loan  in the F.Y.2009-10, possession will be in JULY-.2010.

during the F.Y.2009-10 He has paid a principal of Rs.36480  & interest  4322,

NOW FOR THE F.Y.2010-11 A.Y.2011-12 onwards he will have to claim the interest paid amount in 5 equal installments each year.

IS IT RIGHT IF NOT PLZ ADVICE.