Husband and Wife are engaged in business of selling product X in Mindanao, where there are many terrorist groups operating in the business area. In 2018, they have a total business net income of 250,000. Decide.
Husband and Wife are engaged in business of selling product X in Mindanao, where there are many terrorist groups operating in the business area. In 2018, they have a total business net income of 250,000. Decide.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Husband and Wife are engaged in business of selling product X in Mindanao, where there are many terrorist groups operating in the business area. In 2018, they have a total business net income of 250,000. Decide.
a. Need to file one ITR for 2018, unless impracticable
b. NO need to file because they are exempted due to terrorist groups.
c. File a separate ITR under Section 51 (D), unless impracticable
d. File a consolidated return on May 15, 2019, under Sec 51 (D)
e. None of the above
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