Thirteenth month pay is exempt from income taxation? Group of answer choices No, only the excess to P82,000.00 No, only the excess to P90,000.00 Yes, it is income received. Yes, compensation income does not allow deductions.
Thirteenth month pay is exempt from income taxation? Group of answer choices No, only the excess to P82,000.00 No, only the excess to P90,000.00 Yes, it is income received. Yes, compensation income does not allow deductions.
Chapter5: Unemployment Compensation Taxes
Section: Chapter Questions
Problem 6QR
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Question
Thirteenth month pay is exempt from income
Group of answer choices
No, only the excess to P82,000.00
No, only the excess to P90,000.00
Yes, it is income received.
Yes, compensation income does not allow deductions.
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