Allowable Deductions
In computing the taxable income, certain deductions are allowed by the Tax Code to be deducted from the Gross Income. This is crucial to know because once you commit a mistake in deducting one that is not allowed, then you will made to suffer the penalties of 25% surcharge, 20% interest and compromise penalties. Take time to view those allowable deductions in this powerpoint presentations with references to the provisions of the Tax Code, as amended, or the corresponding implementing regulations.
Allowable deductions.feb.2011
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