Personal Finance You can take this tax benefit even under the new tax regime Updated : February 14, 2020 09:47 AM IST As a taxpayer, you can calculate tax liability under both the regimes and opt for the one with a lower tax liability. Under the new tax regime, all the common deductions are disallowed. There is an impression that, if you opt for the new tax regime, you won’t get tax benefit for the interest paid on a home loan. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.