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of <h1>New Rule 11UAE Defines Fair Market Value Calculation for Slump Sales Under Section 50B of Income-tax Act</h1> Rule 11UAE outlines the method for calculating the fair market value (FMV) of capital assets for slump sales under section 50B of the Income-tax Act. The FMV is the higher of FMV1 or FMV2. FMV1 is calculated using a formula that considers the book value of assets and liabilities, excluding certain items like income tax paid or contingent liabilities. FMV2 is based on the consideration received from the slump sale, including monetary and non-monetary components. The FMV is determined on the date of the slump sale, with valuations guided by registered valuers as per Rule 11UA.
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