Direct tax restructuring: new commodities transaction tax, revised withholding rules, targeted incentives and strengthened anti avoidance regime. The Finance Bill, 2013 amends direct tax laws to set income tax rates and surcharges, revise withholding rules, introduce a Commodities Transaction Tax with deductibility for business income, raise withholding on royalties and fees to non residents, provide targeted incentives (including an investment linked deduction for new plant and machinery and a first home interest deduction), extend and rationalise exemptions and pass through treatments for investment funds and securitisation trusts, widen the tax base through TDS on property transfers and anti avoidance measures, and defer and tighten the General Anti Avoidance Rule with an expert Approving Panel whose directions are binding.