Direct tax collections continued to record a growth of over 40 per cent for the period 1 April 2007 to 15 February 2008 in the current fiscal. 

•  Net direct tax collections stood at Rs228,745 crore, up from Rs.161,776 crore during the same period last fiscal, a growth of 41.40 per cent and achieving over 85 per cent of budgeted direct tax target of Rs267,490 crore.
• Corporate tax registered a growth of 38.78 per cent at Rs138,073 crore, up from Rs99,488 crore during the previous fiscal, while personal income tax (including fringe benefit tax (FBT), securities transaction tax (STT) and banking cash transaction tax (BCTT) grew by 45.64 per cent at Rs.90,356 crore, up from Rs.62,040 crore
• Growth in securities transaction tax was 84.64 per cent (Rs7,878 crore, up from Rs.4,267 crore)
• Fringe benefit tax collections rose by 29.75 per cent to Rs5,216 crore, up from Rs4,020 crore
• Collections under banking cash transaction tax grew by 16.81 per cent to Rs478 crore from Rs409 crore

Mumbai region recorded the highest overall growth at Rs83,363 crore compared to Rs50,227 crore in the same period last fiscal (65.97 per cent) Its contribution to the direct tax collections in the country so far is 36.86 per cent.

Among type of taxes, self-assessment tax (paid voluntarily before filing of tax return) recorded a growth of 62.9 per cent while tax deducted / collected at source recorded a growth of 51.9 per cent, indicating improved tax administration and better tax compliance levels.