Chapter 3 Quiz IT

Barter of Properties.

Income Tax or Transfer Tax?

• Income Tax

• Transfer Tax

• Either of the two

• Neither of the two

Sale of goods

Income Tax or Transfer Tax?

• Income Tax

• Transfer Tax

• Either of the two

• Neither of the two

Donation of properties

Income Tax or Transfer Tax?

• Income Tax

• Transfer Tax

• Either of the two

• Neither of the two

Transfer for less than full and adequate consideration

Income Tax or Transfer Tax?

• Income Tax

• Transfer Tax

• Either of the two

• Neither of the two

Transfer of properties from a decedent to his heirs upon death

Income Tax or Transfer Tax?

• Income Tax

• Transfer Tax

• Either of the two

• Neither of the two

Winnings from gambling.

Taxable or Exempt?

• Taxable

• Exempt

• Either of the two

• Neither of the two

Income from swindling

Taxable or Exempt?

• Taxable

• Exempt

• Either of the two

• Neither of the two

Harvest of fruits from an orchard.

Taxable or Exempt?

• Taxable

• Exempt

• Either of the two

• Neither of the two

Proceeds of life insurance received by the heirs of the insured.

Taxable or Exempt?

• Taxable

• Exempt

• Either of the two

• Neither of the two

Benefits from GSIS, SSS, Pag-Ibig or PhilHealth

Taxable or Exempt?

• Taxable

• Exempt

• Either of the two

• Neither of the two