How much is the income tax due on compensation? Miss Cassy Torralba, a Minimum Wage Earner...

   

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How much is the income tax due on compensation? Miss Cassy Torralba, a Minimum Wage Earner at Titan Enterprises, was able to close a sales deal for her employer during the year. She received the following compensation income: Statutory minimum wage (net of mandatory deduction of P16,800), P175,200 13th-month pay, P16,000 Overtime and holiday pay, P80,000 Night shift differential, P20,000 Hazard pay, P10,000 Commission income, P350,000 How much of the above is subject to income tax? - Noah had the following transaction during the year: Noah is indebted to Emma in the amount of P750,000. When Noah trained Emma for intense tennis lesson for one month, Emma cancelled the indebtedness of Jack. Noah won a gold medal in Tennis sport in 2020 Olympics held in Japan. The Philippine government granted P1,000,000 as prize money for his achievement. Noah received P550,000 from Ava as payment for the interest of P50,000 and the principal amount of the loan. How much is the income tax due on compensation? Miss Cassy Torralba, a Minimum Wage Earner at Titan Enterprises, was able to close a sales deal for her employer during the year. She received the following compensation income: Statutory minimum wage (net of mandatory deduction of P16,800), P175,200 13th-month pay, P16,000 Overtime and holiday pay, P80,000 Night shift differential, P20,000 Hazard pay, P10,000 Commission income, P350,000 How much of the above is subject to income tax? - Noah had the following transaction during the year: Noah is indebted to Emma in the amount of P750,000. When Noah trained Emma for intense tennis lesson for one month, Emma cancelled the indebtedness of Jack. Noah won a gold medal in Tennis sport in 2020 Olympics held in Japan. The Philippine government granted P1,000,000 as prize money for his achievement. Noah received P550,000 from Ava as payment for the interest of P50,000 and the principal amount of the loan.

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Income Tax Due on Compensation for Miss Cassy Torralba Not all of Miss Cassys compensation income is ... View the full answer