Can You Claim Deduction On home loans for Two or More Houses?

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1. I have borrowed Housing Loan of Rs. 700000/- for my house where I am staying, EMI is Rs. 12000/-. Principal Amount is app. Rs. 5000/- pm, Interest portion is app. Rs. 7000/- pm2. Now I want to purchase a new flat by taking a Housing loan of approx. Rs. 25.00 Lacs. EMI will be…