Chapter 15 of 55 · Rudra Samhita - Parvati Khanda · Overall chapter 110 of 464
Tarakasura's Austerities and Kingdom
Taraka is born amid terrifying omens and performs a century of escalating austerities in multiple forms, eventually threatening the gods' own world with the energy he generates. Brahma grants him two boons - unmatched strength, and death only at the hands of a son born from Shiva's own seed - after which Taraka conquers and rules the three worlds outright, reducing the gods to his personal servants.
Brahma said
After this, out of love for him, Varangi conceived. Inside her the extremely energetic foetus grew for many years. When the time was over, Varangi bore a son, gigantic and extremely valiant, his radiance blazing in the ten directions. At that time great evil portents appeared that were causes of hardship. When Varangi's son was born the gods were miserable. Son, there were bad omens on earth, in the sky and in heaven, causing fear in all the worlds, signifying the three kinds of hardship. I will tell you of them. Meteors fell and thunderbolts struck, fearful and loud; they shook hearts and caused misery. The earth quaked with its mountains and all the directions blazed. The waters of all rivers were stirred, especially in the oceans. Blinding gusts of wind shrieked and blew, harsh to the touch, uprooting large trees, with dust like banners on the winds. Lord of brahmanas, Rahu repeatedly covered the sun. All this foretold great fear and unhappiness. Storms came out of mountain hollows, rumbling like chariots and causing terror. Jackals and owls howled in hideous tones, vomiting fire from their mouths. The terrible, inauspicious howl of jackals was heard inside villages. Dogs raised their heads and seemed to sing as they barked and wept in many voices. Son, groups of asses ran here and there braying harshly, and in their frenzy dug up the earth with their hooves. Birds, terrified, flew from their nests, shrieking anxiously and finding no perch. Animals seemed stricken and would not stay in one place; fearful, they wandered, dropping urine and dung in villages and forests. Terrified cows had tears in their eyes and could not be milked. The fearful clouds rained pus. Images of the gods were uprooted and seemed to weep. Trees fell though there was no wind. The planets fought in the sky. Supreme sage, there were many such evil portents. The people did not know what was happening and thought the world was being submerged.
The Prajapati Kashyapa named the asura. He thought about it and named the immensely energetic one Taraka. The immensely valiant child suddenly showed his virility. He grew and his body was strong as iron, as big as a lord of mountains. Taraka the daitya was extremely strong and valiant. To perform austerities, the great-minded one asked his mother's permission. He had the strength of maya and could deceive with it. Having her leave, he resolved to do austerities in order to conquer all the gods. Obeying his elder's instruction, he went to the forest of Madhu. Instructed properly, he followed the rules and tormented himself in extremely terrible austerities. He raised both arms, stood on one leg and gazed at the sun, firm in mind and vow, for a hundred years. He touched the ground only with his big toe and stood so for a hundred years. Taraka, lord and king of asuras, firm in resolve, tormented himself: for a hundred years on water only, for a hundred years on air only, a hundred years immersed in water, a hundred years on land, a hundred years inside a fire, a hundred years upside down, a hundred years balancing on the palms of his hands, a hundred years hanging by his feet from a tree branch, and a hundred years hanging face down drinking only pure smoke. So the king of daityas tormented himself with hardships as part of excellent austerities, pursuing his wish in the proper way. It is unbearable even to hear of them. Sage, as he tormented himself so, a great mass of energy came from his head and swirled everywhere, causing great calamities. It went to the world of the gods and almost burned it down. All the gods and rishis suffered greatly. Indra, lord of the gods, was filled with fear. "Someone is performing austerity and wants to take my position. That lord will rob the universe of its support." Full of uncertainty, and having decided, he could find no peace.
All the gods and rishis consulted each other and, scared and distressed, came to my world and presented themselves before me. Their minds were suffering. All bowed and praised me, joined their hands and reported everything. I used my intelligence to find the reason, and went to give a boon to the asura where he was tormenting himself. Sage, I told him: "Ask a boon. You have tormented yourself with fierce austerities. There is nothing that cannot be given to you." Hearing me, Taraka the great asura bowed, extolled me and asked for an extremely terrible boon.
Taraka said
Giver of boons, if you are satisfied with me, what can I not accomplish? Grandfather, hear the boon I seek. Lord of the gods, if you are pleased and a boon is to be given, show me compassion and grant me two. Great lord, in all the three worlds you have created there should not be a single man equal to me in strength. And if a son born of Shiva's seed becomes a commander and hurls weapons against me, let my death come only then.
Brahma said
Lord among sages, that is what the daitya said to me. Granting him such boons I swiftly returned to my own world. The daitya, having the excellent boons he desired, was very pleased and went to the city called Shonita. On the command of Shukra, guru of the asuras, the great asura, with other asuras, was installed in the kingdom of the three worlds. So the great daitya became leader of the three worlds. He had his own orders carried out and oppressed all things moving and still. Taraka ruled the kingdom of the three worlds in the right manner: he protected the subjects but oppressed the gods and others. Taraka the daitya seized jewels from Indra and the other guardians of the worlds, and out of fear they gave them. In fear Indra gave him Airavata, Kubera gave his nine nidhis, Varuna his white horses, the rishis the kamadhenu, and Surya, afraid of him, gave the divine Ucchaihshrava. Wherever he saw an auspicious object he pursued it and quickly took it. The three worlds were left without substance. Sage, in fear the ocean gave him all its jewels. Untilled, the earth gave all the crops the subjects wanted. The sun heated mildly so he would not suffer. The moon's light was always visible and the breeze always pleasant. The evil-souled asura seized all that belonged to the gods, ancestors and others. He subdued the three worlds and became Indra himself, a wonderful lord without a second, and ruled. He removed all the gods and installed daityas in their places, and set the gods to his own personal tasks. Held down so, all the gods with Shakra in front took refuge in me, without a protector and greatly agitated.
Retold in our own words from Bibek Debroy's English translation of the Shiva Purana (Penguin Classics). Names, numbers and the order of events follow the source.