MI Company has been assessed of deficiency income tax of P1,000,000, exclusive of interest and surcharge for the 2018 taxable year, the tax hability has remained und despite the lapse of June 30, 2020, the deadline for the payment stated in the notice and demand issued by the Commissiones. The payment was made by the taxpayer on February 10, 2001 Compute for the following 1. Correct amount of surcharge 2. Correct amount of deficiency interest 3. Correct amount of deliquency interest 4. Total amount due on February 10, 2021
MI Company has been assessed of deficiency income tax of P1,000,000, exclusive of interest and surcharge for the 2018 taxable year, the tax hability has remained und despite the lapse of June 30, 2020, the deadline for the payment stated in the notice and demand issued by the Commissiones. The payment was made by the taxpayer on February 10, 2001 Compute for the following 1. Correct amount of surcharge 2. Correct amount of deficiency interest 3. Correct amount of deliquency interest 4. Total amount due on February 10, 2021
Chapter18: Accounting Periods And Methods
Section: Chapter Questions
Problem 9DQ: LO.2 Osprey Corporation, an accrual basis taxpayer, had taxable income for 2019 and paid 40,000 on...
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MI Company has been assessed of deficiency income tax of P1,000,000, exclusive of interest and surcharge for the 2018 taxable year, the tax hability has remained und despite the lapse of June 30, 2020, the deadline for the payment stated in the notice and demand issued by the Commissiones. The payment was made by the taxpayer on February 10, 2001
Compute for the following
1. Correct amount of surcharge
2. Correct amount of deficiency interest
3. Correct amount of deliquency interest
4. Total amount due on February 10, 2021
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