Direct tax collection up 43% in April-October

Net direct tax collections rose 43.15% to Rs 1,28,864 crore in the April-October period of FY08 compared to Rs 90,180 crore during the same period last fiscal.

Corporate tax collections were up 45.71% at Rs 78,785 crore, up from Rs 54,072 crore during the previous fiscal.

Personal income tax (including fringe benefit tax, securities transaction tax and banking cash transaction tax) was up by 39.39% at Rs 49,890 crore, up from Rs 35,805 crore in the year ago period.

"Continued buoyancy in direct tax collections indicates healthy growth in the economy, better tax administration and improving tax compliance levels," a Central Board of Direct Taxes (CBDT) release said.