Bir form 1701 june 2013. 1701 Annual Income Tax Return for Self 2019-01-29

Bir form 1701 june 2013 Rating: 8,6/10 282 reviews

Bir Form 1701

bir form 1701 june 2013

Should there be additional dependent s during the taxable year, tax filer may claim the corresponding additional exemption, as the case may be, in full for such year. This return shall be filed by the following individuals regardless of amount of gross income: 1. Such choice made in the initial quarterly return during the taxable year is irrevocable for the said year for which the return is made. Every corporation, partnership no matter how created or organized, joint stock companies, joint accounts, associations except foreign corporation not engaged in trade or business in the Philippines and joint venture or consortium formed for the purpose of undertaking construction projects or engaging in petroleum, coal, geothermal and other energy operations , government-owned or controlled corporations, agencies and instrumentalities shall render a true and accurate income tax return in accordance with the provisions of the Tax Code. A resident alien, non-resident citizen or non-resident alien individual engaged in trade, business or practice of profession within the Philippines. A resident citizen engaged in trade, business, or practice of profession within and without the Philippines. Where it is impracticable for the spouses to file one return, each spouse may file a separate return of income.


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PHILIPPINE TAX TALK THIS DAY AND BEYOND: BIR Form No. 1701

bir form 1701 june 2013

For all questions wherein an appropriate box is provided for a possible answer, mark the applicable box corresponding to the chosen answer with an X; and 4. This return shall be filed by the following individuals regardless of amount of gross income: 1. Item 7 Tax Filer Type: Mark applicable boxes with an X. Authorization Letter, if filed by an authorized representative. The Bureau of Internal Revenue is a Philippine agency of Department of Finance.

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1701 Guidelines and Instructions

bir form 1701 june 2013

For those engaged in financial enterprises, gross income shall include interest income, gains from sales and other income net of costs of funds. Bureau of Internal Revenue Philippines Website Logo logo credits to bir. The basic rule applies: if you don't know how to do something, then ask the one who does. The taxpayer shall exercise its option by placing an X in the appropriate box, which option shall be considered irrevocable for that taxable period. However, individuals who availed and claimed this deduction is no longer required to submit its financial statements when it files its annual tax return and to keep such records pertaining to its gross income. The annual income tax return summarizes all the transactions covering the calendar year of the taxpayer.

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Bir Form 1701

bir form 1701 june 2013

In the case of married individuals where only one of the spouses is deriving income, only such spouse shall be allowed the personal exemption. Item 45 and 46 Personal and Additional Exemption: An individual tax filer shall be allowed a basic personal exemption of Fifty Thousand Pesos P50,000. This return shall be filed by the following individuals regardless of amount of gross income: 1. The additional exemption for dependents shall be claimed by the husband, who is deemed the proper claimant unless he explicitly waives his right in favor of his wife. Only net operating losses incurred by the qualified taxpayer may be carried over to the next three 3 immediately succeeding taxable years following the year of such loss. Item 82 - Interests: Interest at the rate of twenty percent 20% per annum on any unpaid amount of tax, from the date prescribed for the payment until it is fully paid.

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PHILIPPINE TAX TALK THIS DAY AND BEYOND: BIR Form No. 1701

bir form 1701 june 2013

A resident alien, non-resident citizen or non-resident alien individual engaged in trade, business or practice of profession within the Philippines. Individual instructions as to the source of the information and the necessary calculations are provided on each line item. Form 1701 covers all months of the previous year. If the amount of centavos is 49 or less, drop down the centavos e. Where it is impracticable for the spouses to file one return, each spouse may file a separate return of income. Signature Line: When all pages of the return are complete, sign the return in the place indicated, enter the number of pages filed in Item 33. In the case of legally separated spouses, additional exemption may be claimed only by the spouse who has custody of the child or children; Provided, that the total amount of additional excemptions that may be claimed by both shall not exceed the maximum additional exemption allowed by the Tax Code.

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BIR Interactive Forms (Income Tax Returns) 2013

bir form 1701 june 2013

She always goes the extra mile to do a great work with her heart of gold. Filing Date This information return is filed not later than the April 15 of the year following the taxable year in which the income was earned. But take heart, you will understand these things in due time. Only net operating losses incurred by the qualified taxpayer may be carried over to the next three 3 immediately succeeding taxable years following the year of such loss. An Estate or Trust shall be allowed an exemption of Twenty Thousand Pesos P20,000.

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PHILIPPINE TAX TALK THIS DAY AND BEYOND: BIR Form No. 1701

bir form 1701 june 2013

Generally, for all the lines in this part there is a need to complete the appropriate schedules and then transfer the sub-totals to the appropriate line. On Item 5A, enter the Total Gross Compensation and Total Tax Withheld for the Taxpayer and on Line 5B, enter the appropriate information for the Spouse. A resident alien, non-resident citizen or non-resident alien individual engaged in trade, business or practice of profession within the Philippines. An Estate or Trust shall be allowed an exemption of Twenty Thousand Pesos P20,000. An individual engaged in trade or business or in the exercise of their profession and receiving compensation income as well. On the other lines make the appropriate calculations as directed and enter the totals.

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Income Tax Return

bir form 1701 june 2013

Employment Status of Spouse: Single. Item 21 to 23: Mark applicable box with an X. Filing Date - Filed within thirty 30 days after each cash sale, barter, exchange or other disposition of shares of stock not traded through the local stock exchange. Pano un mga simpleng tao o seniors n d teki o walang computers s bhay o internet? A resident citizen engaged in trade, business, or practice of profession within and without the Philippines. Filing Date The corporate quarterly income tax return shall be filed with or without payment within sixty 60 days following the close of each of the first three 3 quarters of the taxable year whether calendar or fiscal year. Schedule 7 - Special Allowable Itemized Deductions: There shall be allowable deduction from gross income in computing taxable income, in addition to the regular allowable itemized deduction, as provided under the existing regular allowable and special laws, rules and issuances such as, but not limited to, Rooming-in and Breast-feeding Practices under R. An individual engaged in trade or business or in the exercise of their profession and receiving compensation income as well.

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