Tax Consultant
1086 Points
Posted on 15 June 2026
Once you file an ITR for a year under the new regime, you cannot go back and claim home loan deductions for that year. The regime choice for a completed assessment year is final after the return is filed.
However, there is a window if the ITR for FY 2023-24 is not yet filed or if it is within the revised return period:
- If you filed before July 31, 2024 (original due date), you can file a revised return before December 31, 2024 , that window is now closed for FY 2023-24.
- If you have not filed at all, you can file a belated return for FY 2023-24 until March 31, 2025, choosing the old regime , that window is also now closed.
For FY 2024-25 and FY 2025-26, you can switch to the old regime when filing your return to claim the deductions. Salaried employees can change their regime choice each year. Business income filers have a more restricted switching rule.
For FY 2025-26 (current year), if your employer deducted TDS under the new regime but you want to claim home loan deductions, switch to the old regime in your ITR. You will get the refund through ITR processing.
Deductions available under the old regime for home loans:
- Section 24(b): Up to Rs 2 lakh interest deduction for self-occupied property
- Section 80C: Up to Rs 1.5 lakh for principal repayment (within the overall 80C cap)
For the full regime comparison and when home loan deductions tip the math in favour of the old regime, this [home loan tax benefits guide for FY 2026-27](https://taxgarden.in/blog/home-loan-tax-benefits-section-24-80c-india-fy-2026-27) covers Section 24, 80C, and the break-even calculation.