Income-tax (21st Amendment) Rules, 1999

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....n the date of their publication in the Official Gazette. 2. In the Income-tax Rules, 1962, after rule 6G, the following shall be inserted namely:- "CCCC. Report in the case of slump sale. 6H. Form of report of an accountant under sub-section (3) of section 50B. report of an accountant which is required to be furnished by every asses along with the return of income, in case of slump sale, under sub-section (3) section 50B shall be in Form No. 3CEA". 3 In Appendix II to the Income-tax Rules, 1962, after FORM NO 3CE , the following Form shall be inserted, namely:- "FORM NO. 3CEA [see rule 6H] Report of an accountant to be furnished by an assessee under sub-section of section 50B of the Income-tax Act, 1961 relating to c....

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....em 2. ____________ 6. Amount of consideration received for slump sale referred to in item 2. ___________ 7. Net worth of the assessee effecting the slump sale: (a) Paid up capital Rs. ___________ (b) Free reserves credited out of the profits and share premium account but does not include reserves credited out of revaluation of assets, write back of depreciation provisions and amalgamation: (i)                            Rs. ___________ (ii)                           Rs. ___________ ....

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....sp;              *I/We have obtained all the information and explanations which to the best of *my/our knowledge and belief were necessary for the purpose of ascertaining and computing the net worth of the undertaking or division which has been transferred by way of slump sale. *I/we certify that the net worth of the undertaking or division has been computed correctly in accordance with the provisions of section 50B of the Income-tax Act, 1961. ------------------------ Signed ^2Accountant Place --------------------------------  Date -------------------------- Notes: 1. Delete whichever is not applicable. 2. Accountant means the accountant as ....