timed task

After obtaining his Bachelor of Science in Accountancy degree, passing the CPA licensure examination, obtaining his master's degree, proving himself to be an extra-ordinary employee and making his way on top of the corporate ladder, Mr. X wanted to give back and share his blessings with his alma mater, Y Elementary School, a public school in the province. Mr. X donated 50 units of high-end computer sets, worth a total of Two Million Five Hundred Thousand Pesos (PhP2,500,000.00). May Mr. X claim the donation as deduction in the form of charitable contributions? No, since this is considered as taxable income on the part of Y Elementary School. No, Mr. X is not allowed to claim the contributions as deductions from his income. Yes. The donation in favor of Y Elementary School is fully deductible from his gross income. Yes. However, the donation shall be subject to limitations