Form No. 28 Frequently Asked Questions

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....orm No. 28 Frequently Asked Questions<BR>Income Tax<BR>Dated:- 26-3-2026<BR><BR>Form No. 28 Frequently Asked Questions Form of application under section 77(4) of the Income-tax Act, 2025 Name of form as per I.T. Rules, 1962 Form 3CEA Name of form as per I.T. Rules, 2026 Form No.28 Corresponding section of I.T. Act, 1961 50B(3) Corresponding section of I.T. Act, 2025 77(4....

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....) Corresponding Rule of I.T. Rules, 1962 6H Corresponding Rule of I.T. Rules, 2026 Rule 54 1. What is Form No. 28? Ans: This form is a report of an accountant to be furnished by an assessee under section 77(4) of the Income-tax Act, 2025 relating to the computation capital gains in the case of slump sale. 2: Who should file Form No. 28? Ans: Form No. 28 must be furnished by....

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.... any assessee who transfers an undertaking or division as a "going concern" for a lump-sum consideration without assigning individual values to assets and liabilities (a slump sale). 3: Is Form No. 28 mandatory? Ans: Yes. It has to be filed by an assessee undertaking a slump sale, to certify the computation of net worth and capital gains under Section 77(4) of the Income Tax Act, 2025. 4:....

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.... What is the time limit for filing Form No. 28? Ans: Form No. 28 must be filed on or before the due date for filing the assessee&#39;s income tax return. 5: How many times can Form No. 28 be filed in a year? Ans: Form No. 28 has to be filed once in a year on or before the due date for filing the assessee&#39;s income tax return. 6: Can I edit Form No. 28 after submission? Ans: No. O....

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....nce Form No. 28 is submitted and acknowledgment is generated, it cannot be edited. Ensure all details are correct before submission. 7: What if I do not have a PAN? Ans: Form No. 28 cannot be submitted without a valid PAN. 8: Can Form No. 28 be filed offline? Ans: No. Form No. 28 can only be submitted online through the Income Tax e-Filing portal. =============<BR> News - Press rele....

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....ase - PIB....