Question
At the age of 54, Mrs. Rio was awarded a retirement gratuity of P2,000,000 for her 30 years of service in the Sirawai Company. The
At the age of 54, Mrs. Rio was awarded a retirement gratuity of P2,000,000 for her 30 years of service in the Sirawai Company. The employers retirement benefit plan was with an employee participation feature where Mrs. Rio contributed a total premium of P800,000 in the fund. Mrs. Rio also received P500,000 benefit from the SSS. Compute the total exclusion in gross income.
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Corporate Finance, European Edition
Authors: Peter Moles, Robert Parrino, David S. Kidwell
1st Edition
0470683708, 9780470683705
