I'm Individula IT holder?

and Now I'm paying the housing loan emi

principle is 4000/-
Interest is 7500/-

Can I adjust in my IT

yes.

assuming 12 emi are paid thru you in this financial year.

claim 4000*12 = 48000 in 80c
whereas 7500*12 = 90000 as negative income from house property .

overall total 48k+90k = 138000 can be claimed as rebate

yes this is adjustable in your it

Yes obviously.

you can claim deduction for principal u/s 80C Rs. 4000.
and under Housing income against intt. Rs. 7500.

get relieved.

Yes you can.

Both Mr.Naveen.K and Mr.P.Amol has answered correctly. Mr.P.Amol answer is elaborate and more clear. No need to waite for more answers.

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