Payment of the First Installment of Income Tax Due

January 22, 1960 BIR RULING NO. 050-60 Filipinas Compania de Seguros Filipinas Building M a n i l a Attention : Mr . J . H . Gustilo Gentlemen : Reference is made to your letter dated January 5, 1960 stating that the total amount of P700.00 was withheld at source from the salary of an employee of your firm during the year 1959. You further stated that the income tax return to be filed by the said employee for the year 1959 will show a total tax liability of P1,000. You now request a ruling from this Office as to whether the amount of P700.00 deducted and withheld from the salary of the above employee may be considered as payment representing the first installment due and the balance of P300.00 as payment on account of the second installment. In reply thereto, I have the honor to inform you that under the circumstances described above, such employee may be considered as having paid the first installment of his income tax which is due and payable on or before April 15, 1960, the due date for filing income tax returns for the year 1959. Accordingly, the balance of P300.00 may be paid on or before July 15, 1960, the due date for payment of the second installment. liblex Very truly yours, MELECIO R. DOMINGO Commissioner of Internal Revenue