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Jun 30, 2021

Valuation Rules for Slump Sale

The Finance Act, 2021 had amended the provisions for computation of capital gains in case of a slump sale. Prior to its amendment, Section 50B of the ITA, provided that capital gains in case of a slump sale will be computed by reducing the ‘net-worth’ of the undertaking from the slump sale consideration. However, this section has now been amended to provide that the ‘fair market value’ of the undertaking will be deemed to be the full value of consideration for the purposes of computation of capital gains. In this context, the Central Government has, on May 24, 2021 notified a new Rule 11UAE in the Income-tax Rules, 1962, which provides for the manner in which the ‘fair market value’ of the undertaking is to be determined for the purposes of section 50B. The fair market value (including the Rule 11UA values, where applicable), is to be determined as on the date of the slump sale.

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These are the views and opinions of the author(s) and do not necessarily reflect the views of the Firm. This article is intended for general information only and does not constitute legal or other advice and you acknowledge that there is no relationship (implied, legal or fiduciary) between you and the author/AZB. AZB does not claim that the article's content or information is accurate, correct or complete, and disclaims all liability for any loss or damage caused through error or omission.

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