New Delhi: A cheerful securities market, combined with an economy rising at 9 per cent, has resulted in the government accumulating 44.39 per cent extra direct tax receipts till August 15 in the current fiscal as against the corresponding period last year. It has already met 22 per cent of the direct tax objectives set in the Union Budget for fiscal 2007-08.

As indicated by the official statistics released today, the direct tax receipts till August 15 stood at Rs 59,210 crore, which was up from Rs.41,006 crore in the same period last fiscal.

On the other hand, corporate tax collections that stood at Rs 33,164 crore registered a gigantic jump of 52.55 per cent as compared to the collections gained during the same period last year.

The finance ministry said, “The continued buoyancy in direct tax collections is a reflection of the robust growth in the economy, much better tax compliance and a vastly improved tax administration.”

Commercial tax collections figure out the biggest chuck of direct tax revenues for the administration. As per the budget estimations for the existing year, the government anticipates to gather up Rs 2,67,490 crore through direct taxes.

Another significant part of direct taxes i.e. personal income tax revenues arose by 35.57 per cent and stood at Rs 25,989 crore till August 15, as against Rs 19,170 crore in the same period, last year.

A further breakdown demonstrates that collections under the STT sprang up by 36.30 per cent to Rs 2,495 crore whilst those under the BCTT grew by 29.71 per cent to Rs 207 crore.

For the recent year, the government anticipates to collect Rs 98,774 crore from personal income tax. This would form around 37 per cent of the total direct tax collections anticipated for the fiscal.