Question
Which of the following statements about net tax receipts
and corporate tax share is/are incorrect? 1. Personal income tax (PIT) receipts made up 60.2% of net collections. 2. Securities Transaction Tax (STT) receipts surged to â‚ą16,634 crore. 3. Corporate tax receipts saw a decrease in growth rate compared to last year.Solution
Statement 1 is correct: Personal income tax (PIT) receipts made up 60.2% of net collections. Statement 2 is correct: Securities Transaction Tax (STT) receipts surged to â‚ą16,634 crore. Statement 3 is incorrect: Corporate tax receipts grew by 12.5%, indicating an increase, not a decrease.
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