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How much is the net taxable income

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Question - The following information related to a domestic corporation in its fifth year of operation: (a) Gross Income - PHP 3,000,000. (b) Business Expenses - PHP 2,400,000. (c) NOLCO - PHP 500,000. (d) Dividend income from a domestic corporation - PHP 30,000. (e) Interest Income from bank deposits, net - PHP 50,000. (f) Gain of sale of domestic shares directly through buyer - PHP 200,000. (g) Gain on sale of of land classified as capital asset with a selling price of PHP 2,000,000 and zonal value of PHP2,500,000 - PHP 500,000. (h) Allocated capital expenditure - PHP 200,000.

Required - How much is the net taxable income?

Reference no: EM133184692

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