capital gain on goodwill on transfer of professionalhospital of an individual

[S.C. WADHWA]

Plz give your expert opinion on capital gain on goodwill on transfer of professional nursing home/hospital of an individual.

 

S.C.WADHWA

AI Summary

Inquiry on Capital Gains from Nursing Home Sale and Slump Sale Classification under Section 50B of Income Tax Act. A discussion on a forum involves an inquiry about the capital gain on goodwill from the transfer of a professional nursing home or hospital owned by an individual. The original poster seeks expert opinions on whether the transaction qualifies as a slump sale under Section 50B of the Income Tax Act. A Chartered Accountant responds, requesting more details and suggesting that the case may indeed fall under slump sale provisions. The individual provides additional context, mentioning the hospital's purchase in the 2008-09 fiscal year and its current sale consideration, seeking further clarification on the transaction's classification.