Nicanor made the following donations to his children in 2021: To Jose – Agricultural land in Nueva Ecija (Zonal value Php 5 Million; Assessed value Php 4 Million) made on January 31, 2021. To Boni – New car worth Php 5 Million made on March 22, 2021 To Goyo – Cash in the amount of Php 5 Million made on April 19, 2021 1. How much is the donor’s tax to be paid on January 31, 2021? 2. How much is the donor’s tax to be paid on March 22, 2021? 3. How much is the donor’s tax to be paid on April 19, 2021?
Nicanor made the following donations to his children in 2021: To Jose – Agricultural land in Nueva Ecija (Zonal value Php 5 Million; Assessed value Php 4 Million) made on January 31, 2021. To Boni – New car worth Php 5 Million made on March 22, 2021 To Goyo – Cash in the amount of Php 5 Million made on April 19, 2021 1. How much is the donor’s tax to be paid on January 31, 2021? 2. How much is the donor’s tax to be paid on March 22, 2021? 3. How much is the donor’s tax to be paid on April 19, 2021?
Chapter4: Gross Income: Concepts And Inclusions
Section: Chapter Questions
Problem 53P: For each of the following, determine the amount that should be included in gross income: a. Peyton...
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Nicanor made the following donations to his children in 2021:
- To Jose – Agricultural land in Nueva Ecija (Zonal value Php 5 Million; Assessed value Php 4 Million) made on January 31, 2021.
- To Boni – New car worth Php 5 Million made on March 22, 2021
- To Goyo – Cash in the amount of Php 5 Million made on April 19, 2021
1. How much is the donor’s tax to be paid on January 31, 2021?
2. How much is the donor’s tax to be paid on March 22, 2021?
3. How much is the donor’s tax to be paid on April 19, 2021?
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