New Delhi, June 18 -- For salaried taxpayers who have opted for the new tax regime, tax planning looks very different from what it did a few years ago. The regime has done away with many of the deductions that employees traditionally relied on to reduce their tax burden, including benefits linked to Section 80C investments, health insurance premiums under Section 80D and home loan interest on self-occupied properties.

The trade-off, however, has been lower tax rates and a simplified tax structure. As a result, many taxpayers assume there is little they can do to lower their tax liability once they have chosen the new regime. That is not entirely true.

While the list of available deductions is much shorter than before, a handful of provi...