R. Pedro Penduko resigned in 2019 after 20 years of service. He had the following income during the year. Salary net of P80,000 withholding tax, P20,000 SSS, P18,000 PhilHealth and P40,000 13th month pay P 480,000 Separation Pay 1,000,000 Compute the gross income to be reported in the annual income tax.
R. Pedro Penduko resigned in 2019 after 20 years of service. He had the following income during the year. Salary net of P80,000 withholding tax, P20,000 SSS, P18,000 PhilHealth and P40,000 13th month pay P 480,000 Separation Pay 1,000,000 Compute the gross income to be reported in the annual income tax.
Chapter4: Gross Income: Concepts And Inclusions
Section: Chapter Questions
Problem 22CE
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Transcribed Image Text:R. Pedro Penduko resigned in 2019 after 20 years of service. He had the following income during the year.
Salary net of P80,000 withholding tax, P20,000 SS,
P18,000 PhilHealth and P40,000 13th month pay
P 480,000
Separation Pay
1,000,000
Compute the gross income to be reported in the annual income tax.
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