Taxpayer Elected to Pay in Two Equal Installments

March 9, 1960 BIR RULING NO. 121-60 Miss Maria Asuncion Sinjian P.O. Box 143 M a n i l a M a d a m : Reference is made to your letter dated February 26, 1960, stating that the amount of tax due from a taxpayer is P550.00 and the amount withheld is P200.00. You now request a ruling from this Office as to wether or not the said taxpayer having elected to pay in two equal installments on the amount of P550.00 is liable to pay P75.00 upon filing his income tax return on April 15, 1960 and the balance of P275.00 payable on or before July 15, 1960. In reply thereto, I have the honor to inform you that under the circumstances described above, the amount of P200.00 withheld is considered as part payment of the Ist installment of his income tax and the balance of P75.00 will be due and payable on or before April 15, 1960. Accordingly, the balance of P275.00 may be paid on or before July 15, 1960, the due date for payment of the second installment. cdtech Very truly yours, MELECIO R. DOMINGO Commissioner of Internal Revenue