John & Paul Partnership’s filed its return for taxable yearending July 30, 2018 on Sept 15 of the same year. 2 years after submitting its return, BIR sent the partnership a Formal Letter of Assessment (FLA) on November 10, 2020. Which of the following is incorrect? (multiple answers may be selected)a. There must have been no agreement between the partnership and the BIR officeb. Upon receipt of the FLA, the John & Paul Partnership may file for a protest on or before December 10, 2020.c. The partnership after realizing a simple error on the return filed may file for an amendment on or before November 15, 2021Date letter of demand and assessment were received was October 10, 2015; date protest was filed with the Bureau of Internal Revenue was October 20, 2015. Date supporting document on the protest were filed was October 30, 2015 and date final decision on the protest was received, November 12, 2015. Last day to appeal to the Court of Tax Appeals?a. December 12, 2015b. November 27, 2015c. December 11, 2015d. None of the aboveThe total consideration received from the sale of goods at a gain representsa. Return on capitalb. Return of capitalc. Either return on or of capitald. Both return on and of capitalLawSocial ScienceTax law TAXATION 101
