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OC4157804Lv1
21 Oct 2021
Right or Wrong
1.Items of expenses allowable as deduction from business income in 1701 ITR are the same items of expenses that are allowable from business income in 1702 ITR.
2. General co. parnership is taxed the same manner as regular corporation.
3. General professional partnerhips that are generating income exclusively from exercise of common profession of paartners is exempt from income tax.
4. General professional partnerhips is liable to withhold expanded withholding tax on its payment of distributable share to the partners in the partnership.
5. In general, govt owned and controlled corporations are subject to Philippine income tax unless specifically exempted under the Tax Code.
Right or Wrong
1.Items of expenses allowable as deduction from business income in 1701 ITR are the same items of expenses that are allowable from business income in 1702 ITR.
2. General co. parnership is taxed the same manner as regular corporation.
3. General professional partnerhips that are generating income exclusively from exercise of common profession of paartners is exempt from income tax.
4. General professional partnerhips is liable to withhold expanded withholding tax on its payment of distributable share to the partners in the partnership.
5. In general, govt owned and controlled corporations are subject to Philippine income tax unless specifically exempted under the Tax Code.
4 Mar 2023
28 Oct 2021
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scstudyhelpLv4
23 Oct 2021
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