Going Concern or Gone Concern? Demystifying Taxation of Slump Sales under Rule 11UAE
The author is Gurasis Singh Grover , a Fifth Year Student from Indian Institute of Management (IIM) Rohtak. Abstract: The taxation of slump sales is not amenable to the general computation of capital gains under Section 45 of Income Tax Act 1961 (“the Act”). Hence, Section 50B introduced a special mechanism for computation. Finance Act 2021 amended Section 50B of the Act to widen the scope of slump sales. Subsequently a CBDT Notification dated 24 May 2021 inserted Rule 11UAE into Income Tax...
