Abstract
The objective of this research is to identify all personal deductions of the 151 article of the income tax law that meet all the fiscal requirements, so that individuals can deduct when presenting their annual income tax return. Personal deductions are the concepts that the legislator allows to deduct form the annual income tax statement. When to discount personal deductions? The process is performed when the taxpayer applies certain deductions established by law. Taxpayer must know specific aspects such as: deduction’s types, that these deductions are strictly necessary, the limitations that the legislator allows to deduct, as well as who can be the beneficiaries of the taxpayer, among other requirements. The individuals may enjoy the benefits by subtracting the accumulative income. For the practical case are used: the ISR law, Regulations, RMF and decrees. If the taxpayer makes use of this option in a legal manner, the taxpayer will have as a result paying less taxes or to increase the balance at their favor and therefore may request the tax refund.
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