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of <h1>Income-tax Rules Amended: New Form 3CEA for Slump Sale Capital Gains under Section 50B(3) Now Effective</h1> The Income-tax (Ninth Amendment) Rules, 2001, effective from July 2, 2001, amends the Income-tax Rules, 1962, by substituting Form No. 3CEA in Appendix II. This form is a report by an accountant required under section 50B(3) of the Income-tax Act, 1961, for computing capital gains in slump sales. It includes details such as the assessee's particulars, the undertaking or division transferred, the purchaser's information, the slump sale date, consideration amount, and net worth calculations. The form must accompany the income return with financial statements as per section 139 of the Income-tax Act.
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