Question

Ronron Caliste, a professional volleyball player, has a monthly basic salary of P50,000. Total overtime pay amounted to P2,000. During the month, he is given rice subsidy of P2,000 and a monthly non-taxable income of P5,000. Compute for the following in Ronron’s income:
1. Payslip gross pay - _____
2. Taxable income - _____
3. Withholding tax - _____
4. Net pay - _____

Answer 1

1. 2,000
2. 5,000
3. 2,000
4. 50,000

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