A substantial cut in personal income taxes to bring relief to India’s middle classes as also a lower corporation tax are understood to be among the major recommendations of the direct tax code (DTC) panel. The panel has also likely proposed that dividend distribution tax (DDT) be taxed only in the hands of recipient and not in the hands of companies as is the case today. Moreover, persons part of the consultations over the past year indicated there would be sops for start-ups and some changes relating to the taxation rules for foreign companies. Many of the recommendations deal with simplyfying the rules and procedures, and are aimed at making it easier for taxpayers. The Akhilesh Ranjan-led panel submitted its report to finance minister Nirmala Sitharaman on Monday.