Mr. Jodie San Diego, is a private employee ( resident citizen) had the following remuneration and various income  in 2019:

Gross compensation income	P 450,000
Personal and living expenses	80,000
SSS premiums contribution	3,600
Philihealth contributions	2,400
Pag-ibig contributions	2,000
Union dues	1,000
Fixed RATA	12,000
Cost of living allowance	24,000
13 th month pay	28,000
Christmas gift	5,000
Laundry allowance ( P 500/ month)	8,000
Dividend income from a  domestic corporation	10,000
Interest income from bank deposits	2,500
Business income	200,000
Capital gain on sale of personal car	20,000
Capital gain on the sale of stocks directly to a buyer	40,000
Dividend income from a foreign corporation	15,000
Sale of land with fair value of ( personal)	15,000,000
Prize as most outstanding citizen for the year	100,000
Prize in a raffle	7.500

 

Requirements:

1. How much is the total taxable and non taxable income?
2. Identify the Taxable,  Non taxable and Taxable non-business?

Answer rating: 100% (QA)

Using the information provided we can compute for Mr Jodie San Diegos taxable and nontaxable income ... View the full answer