You can claim deduction for housing loan interest under section 24.
For a self occupied house maximum deduction is Rs. 2 lakh and for a rented property you can claim the entire interest paid as deductible. Further any loss under the head house property on account of the housing loan interest was allowed to be adjusted against other heads of income like salary, other sources, etc. But Finance Act 2017 has capped this loss adjustment to Rs. 2 lakh in a financial year. This means that Starting 1st April 2017 you will be able to deduct maximum Rs. 2 lakh from you income under other heads of income and balance will be carried forward to next 8 assessment