In 2015, Bruno obtained a life insurance policy on his own life in the amount of P2,000,000 designating of the policy to his wife, Perla as irrevocable beneficiary. Bruno designated his son, Pedro as revocable beneficiary for the remaining 50% of the policy. On September 2019, Bruno died and his wife and son went to the insurance company to collect the proceeds of the policy.

1) How much is the taxable income of his son?

Mr. A purchased a life annuity for P10,000,000 which would pay him P1,250,000 a year for 15 years. Under the terms of the policy, Mr.A is required to pay a premium of P1,000,000 for the first ten years before receiving the annuity for 15 years. He started receiving the annuity during the year 2011.

2) Determine the taxable income for the year 2019.

Ms. Ganda was diagnosed to have sexually transmitted disease (STD). Due to this, she decided to terminate her services and resign. Her employer granted her P1,000,000 separation pay.

3) How much is her taxable income?

A taxpayer worked as audit manager of a hospital for several years. When he retired at age 60, he received a retirement pay equivalent to two-month salary for every year of service as provided in the hospital BIR-approved retirement plan. The Board of Directors of the hospital felt that the hospital should give the retired employee more than what was provided for in the hospital's retirement plan in view of his loyalty and invaluable services for several years. Hence, it resolved to pay him a gratuity of P2,000,000 over and above his retirement pay.

4) How much is the taxable income?