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Slump Sale - Sec. 50B

Income Tax - Capital Gains - 23 - SLUMP SALE Slump Sale means: the transfer of one or more undertakings as a result of the sale for a lumpsum consideration without values being assigned to the individual assets and liabilities in such sale. Normally the agreement for transfer will specify the values of immovable properties for the payment of stamp duty and such specification of values does not amount to assignment of values. SEC - 50B: SPECIAL PROVISION FOR COMPUTATION OF CAPITAL GAINS IN CASE O .....

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vement of the undertaking shall be the net worth of the undertaking. The benefit of indexation shall not be available. Capital Gains = Slump sale consideration minus Net worth of the undertaking or division Net worth = Aggregate value of total assets of the undertaking or division transferred minus Value of liabilities of the undertaking or division transferred as appearing in its books of accounts. Revaluation of assets shall not be considered while computing while computing net worth , i.e. re .....

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