How much is the income tax payable of Ana?
Ana, a resident citizen, provided the following data for year current taxable year:
Gross income from business (gross of P12,000 CWT) P700,000
Business Expenses 300,000
Royalty from books 40,000
Gain on direct sale to buyer of shares of stock of a
domestic corporation held as capital asset 70,000
Loss on sale of land in the Philippines held as
capital asset with cost of P1,500,000
when the zonal value is P1,200,000 500,000
How much is the income tax payable of Ana?
Ana, a resident citizen, provided the following data for year current taxable year:
Gross income from business (gross of P12,000 CWT) P700,000
Business Expenses 300,000
Royalty from books 40,000
Gain on direct sale to buyer of shares of stock of a
domestic corporation held as capital asset 70,000
Loss on sale of land in the Philippines held as
capital asset with cost of P1,500,000
when the zonal value is P1,200,000 500,000
How much is the income tax payable of Ana?
30,000
Nil
12,800
18,000
Step by step
Solved in 2 steps
