Seminars Schedules

Chapter VII – Allowable deductions

SEC. 34. Deductions from Gross Income. – Except for taxpayers earning compensation income arising from personal services rendered under an employer-employee relationship where no deductions shall be allowed under this Section other than under subsection (M) hereof, in computing taxable income subject to income tax under Sections 24 (A); 25 (A); 26; 27 (A), (B) […]

This post does not allow comments

Chapter VI – Computation of Gross Income

Friday, 8 July 2011, 16:07 | Category : Corporate Income Tax, Individual Income Tax, National Taxes
Tags : , ,

SEC. 32. Gross Income. – (A) General Definition. – Except when otherwise provided in this Title, gross income means all income derived from whatever source, including (but not limited to) the following items: (1) Compensation for services in whatever form paid, including, but not limited to fees, salaries, wages, commissions, and similar items; (2) Gross […]

This post does not allow comments

Chapter V – Computation of Taxable Income

Friday, 8 July 2011, 16:02 | Category : Corporate Income Tax, Individual Income Tax, National Taxes
Tags :

  SEC. 31. Taxable Income Defined. – The term taxable income’ means the pertinent items of gross income specified in this Code, less the deductions and/or personal and additional exemptions, if any, authorized for such types of income by this Code or other special laws.

This post does not allow comments