Yes, you can claim deductions on both the principal and interest paid. Principal repayments are covered under Section 80C (up to ₹1.5 lakh), and interest payments fall under Section 24(b) (up to ₹2 lakh annually for self-occupied homes).

Absolutely. You may be eligible for an extra deduction of ₹50,000 under Section 80EE or ₹1.5 lakh under Section 80EEA, depending on conditions like loan size, property value, and sanction date.

yes

If sold within 2 years, the profit is treated as short-term capital gains and taxed as per your income slab.

If sold after 2 years, it's considered long-term capital gains and taxed at 20% with indexation.

You can reinvest the gains in a residential property (Section 54) or in specified bonds (Section 54EC, up to ₹50 lakh) to avoid or defer taxes.

Yes, but you also get some deductions:

30% standard deduction for maintenance

Interest on loan repayment can also be claimed (up to ₹2 lakh if self-occupied)

You can treat one house as self-occupied, even if it’s vacant. The second will be considered deemed let out, and notional rental income is taxable.

Yes. If you're renting in one city and paying EMI on a house in another, you can claim both HRA exemption and deductions on the home loan.

Those are also eligible for deduction under Section 80C, but only in the year you paid them.