Answered step by step
Verified Expert Solution
Question
1 Approved Answer
3-5. A, resident citizen, engaged in business in the Philippines, has the following for 2018: 1st Q 2nd Q 3rd Q 4th Q Gross Income
3-5. A, resident citizen, engaged in business in the Philippines, has the following for 2018: 1st Q 2nd Q 3rd Q 4th Q Gross Income per Quarter 600000 740000 980000 1450000 Deductions per Quarter 280000 430000 610000 850000 W/tax at source per quarter
2000 3000 0 1000 Interest income bank 40000 20000 10000 10000 Compensation income 200000 200000 200000 200000 W/tax on compensation 5000 6000 6000 8000
What is the income tax due / payable of A per quarter?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started