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    <title>NOTES ON CLAUSES - DIRECT TAXES</title>
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    <description>The Bill specifies direct tax rates, surcharge bands and marginal relief rules, prescribes withholding and advance tax rates, and continues education cess levies. It grosses up the base for dividend distribution tax and mutual fund distribution tax, creates a specified tax regime for listed business trusts with pass through treatment for certain income components, and extends concessional treatments and investment incentives. Anti avoidance and compliance measures include APA roll back, inclusion of investment linked deductions in AMT, expanded TDS obligations and penalties, and strengthened registration, reporting and cancellation rules for trusts and exempt entities.</description>
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