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    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 ₹16,634 crore.

    3. Corporate tax receipts saw a decrease in growth rate compared to last year.

    A Only 1 is incorrect Correct Answer Incorrect Answer
    B Only 2 is incorrect Correct Answer Incorrect Answer
    C Only 3 is incorrect Correct Answer Incorrect Answer
    D Both 1 and 3 are incorrect Correct Answer Incorrect Answer
    E Both 2 and 3 are incorrect Correct Answer Incorrect Answer

    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 ₹16,634 crore. Statement 3 is incorrect: Corporate tax receipts grew by 12.5%, indicating an increase, not a decrease.

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