Net Income of a Retired Officer is Computed With Respect to a Fixed Period

August 11, 1960 BIR RULING NO. 360-60 Mr. Paulino V. Nera 155 Progreso Street Pasay City S i r : With reference to your letter dated June 3, 1960, requesting reconsideration of BIR Ruling No. 208, Series of 1960 issued by this Office, I have the honor to inform you that notwithstanding the reasons contained in your said letter, this Office finds no justification in reversing the same. The opinion of this Office, therefore, holding that "as the net income of a retired officer is computed with respect to a fixed period which is the calendar year, only his personal exemptions corresponding to such year in which he is required to file an income tax return may be claimed and allowed", is hereby reiterated. In view thereof, your request for the refund of the amount withheld from the accumulated pension you received under assessment No. 14-A-726626-56 in the amount of P1,459.80 is hereby denied. cdtech Very truly yours, MELECIO R. DOMINGO Commissioner of Internal Revenue