Vinod had taken a housing loan of Rs. 15 Lakh disbursed on 1st April 2006. They are presently paying an EMI of Rs. 17,285 at the end of every month beginning from the month of disbursement. The loan is at fixed rate of interest of 11.25% p.a. (reducing monthly balance basis) with tenure of 15 years. He wants to know what amount is eligible for deductible u/s 24 of Income Tax for housing loan repayments in computation of his Income tax liability for AY 2011-12.