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Mr. Y was hit by a jeepney. He paid P100,000 for hospitalization expenses. He sued the jeepney driver and was awarded by the court a
Mr. Y was hit by a jeepney. He paid P100,000 for hospitalization expenses. He sued the jeepney driver and was awarded by the court a total indemnity of P340,000 divided as follows: P200,000 indemnity for his pain, anguish and sufferings; P40,000 for his lost salaries, and P100,000 as reimbursement for his hospital bills. What is the amount of income subject to tax?
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