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Compute the gross taxable compensation income

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Reference no: EM132782586

Question - PHILIPPINE TAXATION LAW (TRAIN LAW)

Basic salary 350,000 Employee share to SSS, PHIC and HDMF 24,000

A 50 year old employee of BREADLY CORP got retired during the year 2020 after 30 years of continuous service and received the following remunerations:

Overtime pay P16,000; Retirement pay 2,300,000

Benefits received from SSS 400,000

Pro-rated 13th month pay 21,000.

Required - Compute the gross taxable compensation income.

Reference no: EM132782586

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