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Income Taxation by Mind Map: Income Taxation

1. Taxable

1.1. Inclusions from Gross Income

1.1.1. Compensation Income Salaries, Wages, and Fees Commission Honoraria Allowances 13th Month Pay Holiday, Overtime, Night Shift, Differential, and Hazard/Emergency Pay Separation Pay Retirement Pay Sick Leave pay/Vacation leave Pay Fringe Benefit

1.1.2. Business Income

1.1.3. Gains derived from dealings in property

1.1.4. Passive Income

1.1.5. Other Taxable Income

2. Non-Taxable

2.1. Exclusions from Gross Income

2.1.1. Life Insurance

2.1.2. Return of Premium

2.1.3. Gifts, Bequest, Devises

2.1.4. Compensation for Injuries

2.1.5. Retirement Benefits

2.1.6. Miscellaneous Items