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of <h1>Finance Bill 2009 Amends Income-tax Act: Net Worth in Slump Sales Set as Nil for Section 35AD Assets</h1> Clause 24 of the Finance (No. 2) Bill, 2009, amends section 50B of the Income-tax Act concerning the computation of capital gains in slump sales. Effective April 1, 2010, the amendment modifies Explanation 2, clause (b), to state that for capital assets where expenditure is deductible under section 35AD, the net worth is nil. For other assets, it is the book value. This change affects the assessment year 2010-2011 and beyond, ensuring that net worth calculations for slump sales exclude certain deductions, aligning with section 35AD provisions.
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