Online Tax Quiz_March 2, 2023

The following individuals are not required to file Income Tax Return, except for:

• An individual whose taxable income does not exceed P250,000.00

• An individual whose sole income has been subjected to final withholding tax

• A minimum wage earner

• An individual earning purely compensation income from two or more employers within the same taxable year

Individuals having two or more employers are not qualified for substituted filing, thus they are required to file their annual tax return on their own.

• True

• False

Currently, the following are the required attachments in the filing of Income Tax Return for individuals earning purely compensation income, except for:

• BIR Form No. 1700

• Certificate of Compensation Payment/Tax Withheld (BIR Form No. 2316)

• Waiver of the husband’s right to claim additional exemption

• For amended return, proof of tax payment and the return previously filed

When is the deadline of filing BIR Form 1700?

• May 15

• April 15

• October 15

• July 15

The following individuals may file manually "No Payment Returns" with the RDO where they are registered, except for:

• Senior Citizens filing for their own return

• Persons with Disabilities (PWDs) filing for their own return

• Employees qualified for substituted filing but opted to file for an ITR

• Individuals having Mixed Income