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Our Bureau

New Delhi, Nov. 19 Continuing the trend of better tax compliance, direct tax collections increased 42.9 per cent to Rs 1,40,373 crore from April 1 to November 15, 2007 from Rs 98,216 crore recorded in the corresponding period last year.

With this, net direct tax collections till November 15 stood at 52 per cent of the budgeted target of Rs 2,67,490 crore for the fiscal 2007-08, an official release said.

Corporate tax registered a growth of 45.74 per cent at Rs 83,934 crore, up from Rs 57,593 crore during the previous fiscal. Personal income tax (including FBT, STT and BCTT) grew by 39.96 per cent at Rs 56,212 crore up from Rs 40,453 crore last year.

While Securities Transaction Tax was up 69.37 per cent at Rs 4,924 crore against Rs 2,908 crore, Fringe Benefit Tax was up 27.11 per cent at Rs 3,078 crore against Rs 2,422 crore.

Tax deduction or collection at source increased by over 50 per cent, while self-assessment tax (paid voluntarily before submission of tax return) increased by 89.3 per cent, indicating continued improvement in tax administration and tax compliance levels.

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