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Form 1702-RT should be used by taxpayers who only have one source of income which is subject to regular tax rate of 30%. On the other hand, Form 1702-MX should be used by taxpayers who have multiple sources of income which are subjected to different tax rates or with income subject to special/preferential rates.
Annual Income Tax Return. For Use ONLY by Corporation, Partnership and Other Non-Individual. Taxpayer EXEMPT Under the Tax Code, as Amended, [Sec. 30 and. those exempted in Sec.
Income Tax Amount of Net Taxable IncomeRate-P250,0000%P250,000P400,00020% of the excess over P250,000P400,000P800,000P30,000 + 25% of the excess over P400,000P800,000P2,000,000P130,000 + 30% of the excess over P800,0003 more rows
Form 1702-RT should be used by taxpayers who only have one source of income which is subject to regular tax rate of 30%. On the other hand, Form 1702-MX should be used by taxpayers who have multiple sources of income which are subjected to different tax rates or with income subject to special/preferential rates.
What is this form? AITR For Corporation, Partnership and Other Non-Individual Taxpayer EXEMPT Under the Tax Code, as Amended, and Other Special Laws, with NO Other Taxable Income.
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An individual whose taxable income does not exceed P250,000 is not required to file an income tax return. The ITR shall be composed of a maximum of four (4) pages in paper or electronic form.
Step by Step Guide on How to E-file ITR on Income Tax Portal Step 1: Login. Step 2: Go to File Income Tax Return Step 3: Select the right Assessment Year Step 4: Select status. Step 5: Select ITR type. Step 6: Choose the reason for filing ITR. Step 7: Add Bank Account Details and Other Information. Step 8: e-Verify ITR.
How to File ITR With Form 16? Step 1: Visit the Income Tax e-Filing portal. Step 2: Select the applicable ITR utility under Downloads. Step 3: Fill in the required details on the ITR form. Step 4: Validate all tabs and calculate tax. Step 5: Generate information into an XML sheet.

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