Mark resigned in 2021 after 12 years of service. He had the following income during the...
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Mark resigned in 2021 after 12 years of service. He had the following income during the year: Salary, net of P80,000 withholding tax, P20,000 SSS, P18,000 PhilHealth and P40,000 13th Month Pay Separation pay Compute the gross income subject to progressive (regular) tax. P480,000 1,000,000 Your friend shows you a summary of her compensation for the year as follows: Basic salary P985,000 Overtime and Holiday Pay 60,000 13th month pay and other bonuses 190,000 P1,235,000 Total: Less: Deductions for- SSS, Philhealth, Pag-ibig Union dues 75,000 6,000 40,000 25,000 P1,089,000 Advances from employer Absences and tardiness Net Pay She wants to know, how much is the total exclusions from her gross income? Mark resigned in 2021 after 12 years of service. He had the following income during the year: Salary, net of P80,000 withholding tax, P20,000 SSS, P18,000 PhilHealth and P40,000 13th Month Pay Separation pay Compute the gross income subject to progressive (regular) tax. P480,000 1,000,000 Your friend shows you a summary of her compensation for the year as follows: Basic salary P985,000 Overtime and Holiday Pay 60,000 13th month pay and other bonuses 190,000 P1,235,000 Total: Less: Deductions for- SSS, Philhealth, Pag-ibig Union dues 75,000 6,000 40,000 25,000 P1,089,000 Advances from employer Absences and tardiness Net Pay She wants to know, how much is the total exclusions from her gross income?
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Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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