Fair market value for slump sale is computed as the higher of asset value and consideration value under the prescribed formula. Fair market value of capital assets for slump sale purposes under section 77 is the higher of FMV1 and FMV2, both determined on the date of slump sale. FMV1 is computed from the adjusted book value of assets, added values of jewellery, artistic work, shares, securities and immovable property, and reduced by specified liabilities. FMV2 is computed from monetary and non-monetary consideration received or accruing, including property values determined under rule 57 or by registered valuer, and stamp duty value for immovable property.