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Slump Sales: New Rules Of The Game
New valuation method for capital gains on slump sales may hurt group restructurings.
31 May 2021, 02:54 PM IST
The tax treatment of slump sales by corporate India is set to change. It started with an amendment to the income tax law via Finance Act, 2021. And now, the Central Board of Direct Taxes has notified rules to determine taxability of capital gains as a result of slump sales or slump exchanges.The rules are an anti-abuse measure to curtail the practice of businesses being under-valued, Pranav Sayta, partner at EY India, said. While the...
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