The following information related to a married couple: (a) Resident alien husband and wife with two dependent children. (b) Salary and allowances of husband arising from employment: Salary of PHP 752,000, living allowances of PHP 100,000, and housing benefits (100%) of PHP 300,000. (c) Teaching salary of wife: PHP 168,000. (d) Gross dividend income from investment in shares of stock of a domestic corporation of PHP 10,000. (e) Interest of PHP 20,000 on peso bank account. (f) Capital gain on sale of shares of PHP 5,000. (g) Taxes withheld by employer of husband at PHP 118,000 and by employer of wife at PHP 0. (h) Husband is occupying a managerial position in the company. Compute for the income tax due of the husband and wife.
The following information related to a married couple: (a) Resident alien husband and wife with two dependent children. (b) Salary and allowances of husband arising from employment: Salary of PHP 752,000, living allowances of PHP 100,000, and housing benefits (100%) of PHP 300,000. (c) Teaching salary of wife: PHP 168,000. (d) Gross dividend income from investment in shares of stock of a domestic corporation of PHP 10,000. (e) Interest of PHP 20,000 on peso bank account. (f)
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