Which of the following types of direct tax collection increased as of 10 February 2023 budget?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. Personal income tax.
As of the February 10, 2023, budget, the collection of personal income tax saw a significant increase. This growth can be attributed to higher compliance and improved tax administration measures. The government aimed to expand the tax base and enhance collections by implementing measures that encouraged taxpayers to file returns and pay taxes on time. Additionally, the budget focused on simplifying tax processes and increasing transparency, which further contributed to the rise in personal income tax collections.