Persons Subject to Internal Revenue Tax

April 5, 1960 BIR RULING NO. 155-60 The Honorable Judge Roman M. Umali Court of Tax Appeals M a n i l a S i r : In answer to your letter dated March 16, 1960, I have the honor to inform you as follows: Persons engaged in a business subject to any internal revenue tax, or those engaged in the private practice of their profession, or in the pursuit of an occupation on which a fixed tax is imposed are required to file with their income tax return the statement of networth and operations. Since you are neither engaged in a taxable business nor in the private practice of your profession and considering that the annual rental income you received is only P360, this Office believes and so holds that you need not file the aforesaid statement with your income tax return. Very truly yours, MELECIO R. DOMINGO Commissioner of Internal Revenue