Practice question
Which personal-injury receipt is addressed by Section 32(B)(4)?
- Any ordinary business profit
- Every professional fee
- Every late sales payment
- Qualifying compensation or damages on account of personal injuries or sickness
- Every stock sale price
Legal references
- NIRC, Sections 26, 32(B) and 40(A), (C)(3)-(5), read with later amendments: https://lawphil.net/statutes/repacts/ra1997/ra_8424_1997.html
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