Payment of the Amount of Tax Withheld

July 18, 1960 BIR RULING NO. 301-60 Messrs. Sycip, Gorres, Velayo & Co. Certified Public Accountants P. O. Box 589, Manila Gentlemen : Reference is made to your letter of the 13th ultimo, requesting confirmation of your opinion that when the amount of tax withheld under either section 53 or 54 of the Tax Code is in excess of P500.00 the same may be paid by the withholding agent in two equal installments, that is, the first installment shall be paid on or before April 15, and the second on or before July 15, of the following calendar year. In answer thereto, I have the honor to inform you that the view taken by you is in accordance with sections 53(c) and 54 of said Code, in relation to section 51(A)(2) thereof, even after their amendments by Republic Act No. 2343. Pursuant to said section 53(c), the amount withheld shall be paid on or before the time fixed by law for the payment of income tax, while under said section 54, it is stated that the tax shall be paid in the same manner as provided in section 53 of the Tax Code. On the other hand, said section 51(a)(2) provides that when the tax due is in excess of P500.00, the taxpayer may elect to pay in two equal installments, in which case the first installment shall be paid on or before April 15, and the second installment on or before July 15, following the close of the calendar year. cdta Very truly yours, (SGD.) MELECIO R. DOMINGO Commissioner of Internal Revenue