A private rank and file employee had the following remuneration for the yearGross salaries, net of 11,000 mandatory contribution314,000Fixed allowances12,000Cost of living allowance24,00013th month pay28,000Christmas gift5,000Laundry allowance8,000What is the taxable compensation income?314,000326,000338,000350,000

Income tax: Income tax is the tax that an individual is responsible for on their earned income. It…

A private rank and file employee had the following remuneration for the year Gross salaries, net of 11,000 mandatory contribution 314,000 Fixed allowances 12,000 Cost of living allowance 13th month pay 24,000 28,000 Christmas gift 5,000 Laundry allowance 8,000 What is the taxable compensation income? 314,000 326,000 338,000 350,000

A private rank and file employee had the following remuneration for the year Gross salaries, net of 11,000 mandatory contribution 314,000 Fixed allowances 12,000 Cost of living allowance 13th month pay 24,000 28,000 Christmas gift 5,000 Laundry allowance 8,000 What is the taxable compensation income? 314,000 326,000 338,000 350,000

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter9: Deductions: Employee And Self-employed-related Expenses

Section: Chapter Questions

Problem 22CE

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