Which of the following income derived from within the Philippines by a resident individual is not subject to the rates in Section 24(a) of the NIRC? a. Salary received by a managing director of a general professional partnership. b. A passive income in the form of a prize win in a raffle amounting to P4,000.00. c. A gain from sale of his personal motor vehicle as another income of a taxpayer who is a compensation earner.
Which of the following income derived from within the Philippines by a resident individual is not subject to the rates in Section 24(a) of the NIRC? a. Salary received by a managing director of a general professional partnership. b. A passive income in the form of a prize win in a raffle amounting to P4,000.00. c. A gain from sale of his personal motor vehicle as another income of a taxpayer who is a compensation earner.
Chapter6: Deductions And Losses: In General
Section: Chapter Questions
Problem 2BCRQ
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Which of the following income derived from within the Philippines by a resident individual is not subject to the rates in Section 24(a) of the NIRC?
a. Salary received by a managing director of a general professional
b. A passive income in the form of a prize win in a raffle amounting to P4,000.00.
c. A gain from sale of his personal motor vehicle as another income of a taxpayer who is a compensation earner.
d. A gain on sale of a real property for private use of the family of the taxpayer.
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