General Anti-Avoidance Rule: new framework to declare impermissible avoidance arrangements and fix binding tax consequences. The Bill revises income-tax levy and TDS rates for 2013-14, amends definitions of agricultural income and capital asset by prescribing aerial distance thresholds from municipalities, expands targeted exemptions and deductions (insurance, securitisation trusts, buy-back income, housing loan interest and equity savings), introduces section 32AC for investment-linked deductions with recapture rules, and enacts a comprehensive General Anti-Avoidance Rule (Chapter X-A) with procedural mechanisms including Commissioner referrals and an Approving Panel to declare impermissible avoidance arrangements and determine tax consequences.