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The irs eliminated tax exemptions with tax reform.
Us income tax exemption. Tax exemptions reach back to the civil war era when the u s. Government established a standard 600 personal tax exemption at the height of the war. Instead the standard federal deduction has increased significantly. Summary of federal tax law changes for 2010 2017 accessed april 29 2020.
2017 tax brackets standard deduction and personal exemption accessed april 29 2020. Form 1040 us individual income tax return for tax year 2017 page 1. The provisions for income tax exemptions are offered under section 80dd in two situations. When you prepare and efile your 2020 tax return you can be assured that the efile tax app will apply the correct standard deduction or itemized deduction for you w e automatically select the most tax beneficial for you standard or itemized deduction.
In case of severe disability the citizen can claim income tax exemption of up to rs.
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