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The following information appeared in the 2020 BIR Form 2316 (Certificate of Compensation Payment/Tax Withheld) of Nicanor, a purely compensation income earner: Gross compensation income                                                         Php        400,000.00 13th month pay and other benefits                                                                40,000.00 Amount of taxes withheld (by the employer)                                                30,000.00 Commission                                                                                                     50,000.00 Pagibig contributions                                                                                      10,000.00 Philhealth contributions                                                                                 10,000.00 SSS                                                                                                                    10,000.00 Union dues                                                                                                       10,000.00   Question: The total non-taxable portion to be deducted from gross compensation income of Nicanor is:

The following information appeared in the 2020 BIR Form 2316 (Certificate of Compensation Payment/Tax Withheld) of Nicanor, a purely compensation income earner: Gross compensation income                                                         Php        400,000.00 13th month pay and other benefits                                                                40,000.00 Amount of taxes withheld (by the employer)                                                30,000.00 Commission                                                                                                     50,000.00 Pagibig contributions                                                                                      10,000.00 Philhealth contributions                                                                                 10,000.00 SSS                                                                                                                    10,000.00 Union dues                                                                                                       10,000.00   Question: The total non-taxable portion to be deducted from gross compensation income of Nicanor is:

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
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The following information appeared in the 2020 BIR Form 2316 (Certificate of Compensation Payment/Tax Withheld) of Nicanor, a purely compensation income earner:

Gross compensation income                                                         Php        400,000.00

13th month pay and other benefits                                                                40,000.00

Amount of taxes withheld (by the employer)                                                30,000.00

Commission                                                                                                     50,000.00

Pagibig contributions                                                                                      10,000.00

Philhealth contributions                                                                                 10,000.00

SSS                                                                                                                    10,000.00

Union dues                                                                                                       10,000.00

 

Question: The total non-taxable portion to be deducted from gross compensation income of Nicanor is:   

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