The Budget for the fiscal year 2010-11, presented on 5 June 2010, was passed by the Parliament on 25 June 2010. However, the fine print of the Finance Act, 2010 provides that capital gains tax (CGT) shall be levied on stocks purchased on or before 30 June 2010 and sold on or after 1 July 2010.
The Budget proposals generally take effect from 1 July 2010. The following are some of the more significant proposals:
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