What is the income tax refundable or payable after considering the creditable withholding tax and the tax payment?

THIS SUBJECT IS INCOME TAXATION

1. Waterfall Corp. made an estimated tax payment of P10,000 during the year.

 

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Sales, net of P70,000 creditable withholding tax Cost of Sales Gross Income Rental Income, net of P 3,000 creditable withholding tax Total Gross income Less: Allowable deductions Net Income P2,950,000 1,900,000 P1,050,000 97,000 P1,147,000 1,000,000 P147,000 Sales, net of P70,000 creditable withholding tax Cost of Sales Gross Income Rental Income, net of P 3,000 creditable withholding tax Total Gross income Less: Allowable deductions Net Income P2,950,000 1,900,000 P1,050,000 97,000 P1,147,000 1,000,000 P147,000

Answer rating: 100% (QA)

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