An employee received the following benefits: regular compensation income, net of P25,000 SSS, PHIC & HDMF...

 

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An employee received the following benefits: regular compensation income, net of P25,000 SSS, PHIC & HDMF employee share - P850,000; 13th month pay - P120,000; De minimis benefits within their limits - P90,000; Excess de minimis benefits - P70,000; Other de minimis benefits - P30,000; Other fringe benefits - P60,000. Using the tax table below, how much is income tax due of this employee? If Taxable Income is: Not over P 250,000 Over P 250,000 but not over P 400.000 Over P 400,000 but not over P 800.000 P Over P 800,000 but not over P 2,000,000 P Over P 2,000,000 but not over P 8.000.000 |P Over P 8,000,000 Tax Due is: 20% of the excess over P 250,000 30.000+ 25% of the excess over P 400.000 130,000+30% of the excess over P 800,000 490,000 + 32% of the excess over P 2,000,000 |P 2.410.000 + 35% of the excess over P 8,000,000 (Answer must have no peso sign, no decimals & no extra spaces in between. Follow this format: X,XXX,XXX) An employee received the following benefits: regular compensation income, net of P25,000 SSS, PHIC & HDMF employee share - P850,000; 13th month pay - P120,000; De minimis benefits within their limits - P90,000; Excess de minimis benefits - P70,000; Other de minimis benefits - P30,000; Other fringe benefits - P60,000. Using the tax table below, how much is income tax due of this employee? If Taxable Income is: Not over P 250,000 Over P 250,000 but not over P 400.000 Over P 400,000 but not over P 800.000 P Over P 800,000 but not over P 2,000,000 P Over P 2,000,000 but not over P 8.000.000 |P Over P 8,000,000 Tax Due is: 20% of the excess over P 250,000 30.000+ 25% of the excess over P 400.000 130,000+30% of the excess over P 800,000 490,000 + 32% of the excess over P 2,000,000 |P 2.410.000 + 35% of the excess over P 8,000,000 (Answer must have no peso sign, no decimals & no extra spaces in between. Follow this format: X,XXX,XXX)