Itr

[tripleR]

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unsa purpose y man mo file ta ug ITR? or annual income tax return? f ako income for the whole year moabot ug 200thousand, pila mabyran? then naa ko 3 kakids..?

[tripleR]

please give me an information about this..

[arnz11277]

Bro, its a requirement under the law (Tax Code). If your income is from employment and you have one employer for the whole year, no need to file an ITR. If your income is from business, you are required to file. If your income is P200K, you have to deduct P125K (P50K as married, P25K per dependent child provided your BIR record is updated meaning you declared your kids as your dependent). Your taxable income will be P75K. Based on the graduated tax rates as provided under the tax code, the tax for P75K income is P9,500 (P8,500 for the first P70K, and 20% in excess of P70K).

Hope this helps.

[tripleR]

Bro, its a requirement under the law (Tax Code). If your income is from employment and you have one employer for the whole year, no need to file an ITR. If your income is from business, you are required to file. If your income is P200K, you have to deduct P125K (P50K as married, P25K per dependent child provided your BIR record is updated meaning you declared your kids as your dependent). Your taxable income will be P75K. Based on the graduated tax rates as provided under the tax code, the tax for P75K income is P9,500 (P8,500 for the first P70K, and 20% in excess of P70K).

Hope this helps.

thanks sa info bro..but karon lang ko nag open for business and then amo income before is from agricultural sources, i mean copra and rice from our land?