I have a residential flat. I am residing in it. I have booked another flat in Dec- 2011, which is yet under construction. Mu payment plan is construction based and paid 90% to the builder. I have taken home loan from bank for this flat. Bank is disbursing loan since beginning to the builder and I am paying EMI for this loan. Please tell me whether interest and principle component of this loan is eligible for rebate of Income tax in any form.