e Php 1,150,000.00 and Php 500,000.00, respectively. She opted to avail of the 8% preferential taxation in her 1st Quarter ITR. The total income tax payments made by Inday from 1st quarter to 3rd quarter amounts to P 220,000 and the total tax withheld (expanded withholding tax) by her clients is equivalent to 10% from which she received her BIR Form 2307s.
e Php 1,150,000.00 and Php 500,000.00, respectively. She opted to avail of the 8% preferential taxation in her 1st Quarter ITR. The total income tax payments made by Inday from 1st quarter to 3rd quarter amounts to P 220,000 and the total tax withheld (expanded withholding tax) by her clients is equivalent to 10% from which she received her BIR Form 2307s.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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61.
Inday is a medical doctor. Inday’s total gross receipts from year 2020 amounted to Php 4,250,000.00 while the cost of service and operating expenses were Php 1,150,000.00 and Php 500,000.00, respectively. She opted to avail of the 8% preferential
What is Inday’s CORRECT income tax payable
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