Lazaro saved the life of Cory and three others who met ä car accident Unintentionally, it was found out that Cory is a kidnap victim of the three men. Because of the assistance extended by Lazaro, Cory was saved and the kidnappers were arrested by police authorities. Consequently, Cory gave him P50,000. The remuneration received by Lazaro is: a. exempt from tax b. subject to income tax subject to donor's tax d. subject to 20% final tax C.
Lazaro saved the life of Cory and three others who met ä car accident Unintentionally, it was found out that Cory is a kidnap victim of the three men. Because of the assistance extended by Lazaro, Cory was saved and the kidnappers were arrested by police authorities. Consequently, Cory gave him P50,000. The remuneration received by Lazaro is: a. exempt from tax b. subject to income tax subject to donor's tax d. subject to 20% final tax C.
Chapter19: Family Tax Planning
Section: Chapter Questions
Problem 23CE
Related questions
Question
Transcribed Image Text:12. Lazaro saved the life of Cory and three others who met ä car accident
Unintentionally, it was found out that Cory is a kidnap victim of the three
men. Because of the assistance extended by Lazaro, Cory was saved and
the kidnappers were arrested by police authorities. Consequently, Cory
gave him P50,000. The remuneration received by Lazaro IS:
exempt from tax
b. subject to income tax
C. subject to donor's tax
d. subject to 20% final tax
a.
CS Scanned with CamScanner
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Recommended textbooks for you