A taxpayer filed his income tax return in October 28, 2022. The deadline for the return was April 15, 2022. If he has P40,000 net tax due, compute the penalties in the form of interest.   What is the total surcharge penalty? P0 P10,000 P8,000 P20,000

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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A taxpayer filed his income tax return in October 28, 2022. The
deadline for the return was April 15, 2022. If he has P40,000 net tax
due, compute the penalties in the form of interest.
 
What is the total surcharge penalty?
P0
P10,000
P8,000
P20,000
 
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