https://www.taxtmi.com/acts?id=49519 Profits from a slump sale are chargeable as capital gains in the year of transfer and classified as short-term if the undertaking was held for not more than thirty-six months; otherwise long-term. For such transfers, the net worth of the undertaking or division is deemed to be the cost of acquisition and cost of improvement for computing capital gains, with certain proviso exclusions not to be considered. The assessee must file, with the return, a prescribed accountant's report certifying the net worth computation under the section's rules. en-us Sat, 22 Feb 2025 10:58:19 +0530 Sat, 22 Feb 2025 10:58:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=49519 Profits from a slump sale are chargeable as capital gains in the year of transfer and classified as short-term if the undertaking was held for not more than thirty-six months; otherwise long-term. For such transfers, the net worth of the undertaking or division is deemed to be the cost of acquisition and cost of improvement for computing capital gains, with certain proviso exclusions not to be considered. The assessee must file, with the return, a prescribed accountant's report certifying the net worth computation under the section's rules. Act-Rules F. Acts / Amendment Acts Sat, 22 Feb 2025 10:58:19 +0530 https://www.taxtmi.com/acts?id=49519