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Income Taxation, Chapter 10 - Compensation Income An employee received the following benefits: regular compensation income, net of P25,000 SSS, PHIC & HDMF employee share
Income Taxation, Chapter 10 - Compensation Income
An employee received the following benefits: regular compensation income, net of P25,000 SSS, PHIC \& HDMF employee share - P850,000; 13th month pay P120,000; De minimis benefits within their limits - P90,000; Excess de minimis benefits - P70,000; Other de minimis benefits - P30,000; Other fringe benefits P60,000. Using the tax table below, how much is income tax due of this employee? (Answer must have no peso sign, no decimals \& no extra spaces in between. Follow this format: x,XXX,XXX)Step by Step Solution
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