The following relate to the compensation income of a private rank and file employee during the yearAnnual compensation incomeP540,00013th month pay45,00014th month pay45,000Total of monthly nice allowance ouring the year26, 000Commission from employer12,000Christmas gift8000SSS PhilHealth and HDMF contribution2 0001. Total exempt De Minimis beneftsis

13th month pay is exempt as "other benefits" to the extent of P90,000 De Minimis Benefits: rice…

The following relate to the compensation income of a private rank and file employee during the year. Annual compensation income P540 000 13th month pay 45,000 14th month pay 45,000 Total of monthly rice allowance during the year 26,000 Commission from employer 12,000 Christmas gift 8,000 SSS, PhilHealth and HDMF contribution 2 000 1. Total exemp: De Minimis benefits is

The following relate to the compensation income of a private rank and file employee during the year. Annual compensation income P540 000 13th month pay 45,000 14th month pay 45,000 Total of monthly rice allowance during the year 26,000 Commission from employer 12,000 Christmas gift 8,000 SSS, PhilHealth and HDMF contribution 2 000 1. Total exemp: De Minimis benefits is

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter3: Business Income And Expenses

Section: Chapter Questions

Problem 18MCQ

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Similar questions

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