quot Tax Expenditure quot refers to which of the following ........

Economic Affairs Tax System

"Tax Expenditure" refers to which of the following?

It is the opportunity cost of taxing at concessional rates, or the opportunity cost of giving exemptions, deductions, rebates, deferrals credits etc. to the tax payers

These are the administrative expenditure occurred in collecting the direct and indirect taxes.

It is the direct expenditure from the non sharable pool of the Union government

It is the notional value of the evaded taxes by the Corporate and Individuals.

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Explanation:

First option is correct.
Tax Expenditures, as the word might indicate, does not relate to the expenditures incurred by the Government in the collection of taxes.
Rather it refers to the opportunity cost of taxing at concessional rates, or the opportunity cost of giving exemptions, deductions, rebates, deferrals credits etc. to the tax payers.
Tax expenditures indicate how much more revenue could have been collected by the Government if not for such measures. In other words, it shows the extent of indirect subsidy enjoyed by the tax payers in the country.