Kikay University, a non-stock, non-profit educational institution, earned rental income worth P10,000,000 from Do La Sol Coffee Shop. The University actually, directly, and exclusively used the rental income for educational purposes. How much is the income tax due arising from the receipt of rental income?
Kikay University, a non-stock, non-profit educational institution, earned rental income worth P10,000,000 from Do La Sol Coffee Shop. The University actually, directly, and exclusively used the rental income for educational purposes. How much is the income tax due arising from the receipt of rental income?
Chapter5: Introduction To Business Expenses
Section: Chapter Questions
Problem 44P
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Kikay University, a non-stock, non-profit educational institution, earned rental income worth P10,000,000 from Do La Sol Coffee Shop. The University actually, directly, and exclusively used the rental income for educational purposes. How much is the income tax due arising from the receipt of rental income?
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