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

[CAGOPALJI AGRAWAL]

Please give the detailed facts of the case. Your case may fall under slump sale (Section 50B)

[S.C. WADHWA]

She is a well qualified surgeon was in employment with this hospital from 8 to 10 years and did her professional practise in the said hospital from 5 to 6 years and lateron the said hospital was purchased in the year 2008-09 FY. The sale transaction fell under slum sale at that time.  Now the said hospital is under sale consideration.  Please give your expert opinion whether the transaction fall under slum sale or it will be beneficial to get goodwill.  

 

S.C.WADHWA

[CAGOPALJI AGRAWAL]

Yes, it may fall under slump sale. Please refer section 50B for details.

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.