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Mr. Parokyano is a citizen of the Philippines had a gross income from the practice of his profession of P400,000. His expenses in the practice
- Mr. Parokyano is a citizen of the Philippines had a gross income from the practice of his profession of P400,000. His expenses in the practice was P150,000. He had 7 legitimate children, the eldest whom is 10 years old. If there is was a withholding tax of P30,000 on his gross income:
- How much is the maximum additional exemption of Mr. Parokyano? Show your solution.
- How much is the income tax due/refundable to Mr. Paroyano? Show your solution.
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