<h1>Direct tax collections soar 42% from April to August 2007, boosted by corporate and personal income tax growth.</h1> Direct tax collections increased by 42% from April to August 2007, reaching Rs.61,030 crore compared to Rs.42,980 crore in the same period the previous year. Corporate tax collections rose by 49.49% to Rs.33,766 crore, while personal income tax, including FBT, STT, and BCTT, grew by 33.76% to Rs.27,206 crore. Securities Transaction Tax saw a 35.16% increase, and Banking Cash Transaction Tax surged by 79.73%. The consistent growth of over 40% in direct tax collections during the fiscal year 2007-08 highlights economic buoyancy, improved tax compliance, and enhanced tax administration.