Webb29 apr. 2024 · The term’ slump sale’ has been defined under section 2(42C) of the Income Tax Act, as follows: “slump sale” means the transfer of one or more undertaking, by any … WebbBasics of Depreciation. Depreciation is allowable as expense in Income Tax Act, 1961 on basis of block of assets on Written Down Value (WDV) method. Depreciation on Straight Line Method (SLM) is not allowed. Block of assets means group of assets falling within a class of assets for which same rate of depreciation is prescribed.

Concept of Slump Sale & Taxation Issues in India Request PDF

Webb6 feb. 2024 · Slump sale is a method of corporate restructuring. Slump sale is generally undertaken to hive off a part of the business division, to weed out a loss making division and to focus on the core business activities and improve its performance. WebbFollowing is a slump sale example for which the computation which has been laid down: *The numbers taken in the above-mentioned table are solely for illustration purposes. … inagh valley tune

Slump Sale Agreement/ Business Transfer Agreement Sorting Tax

WebbSlump sale may be of a single undertaking or even more than one undertaking. The undertaking has to be transferred as a result of sale. The consideration for transfer is a … WebbIn accordance with Section 2 (42C) of the Income-tax Act 1961. A ‘Slump Sale’ means the transfer of one or more than one undertakings as a result of the sale for a lump sum … Webbxi)“Transaction” means the sale of Defence Business Undertaking by the Seller to the Purchaser as a going concern for lump sum consideration on a slump sale basis, as contemplated in this Agreement. xii)“Taxes” means Direct Taxes and Indirect Taxes pertaining to Defence Business Undertaking. 1.2 Interpretation inch feet to meter