| 1. |
Particulars of the
assessee effectin the slump sale :
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(a) |
Name |
....................................... |
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(b) |
Address |
....................................... |
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(c) |
Permanent account number |
....................................... |
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(d) |
Nature of business |
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| 2. |
Details of
undertaking or division, transferred by way o slump sale :
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(a) |
Address/Location |
......................................... |
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(b) |
Nature of business |
......................................... |
| 3. |
(a) |
Book value of the fixed assets of the assessee effecting
the slump sale |
......................................... |
|
(b) |
Book value of the fixed assets of the undertaking or
division, transferred by way of slump sale |
......................................... |
|
(c) |
Ratio of (b) to (a) |
.......................................... |
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(d) |
Where the assessee has more than one undertaking or
division, being transferred by way of slump sale, the ratio as computed
in item 3(c) above in respect of each undertaking or division |
........................................ |
| 4. |
Name, address and
permanent account number of the person who has purchased the undertaking
of division referred to in item 2. |
.......................................... |
| 5. |
Date of
slump sale of the undertaking or division referred to in item 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
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..........................................
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(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 : |
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(i) |
Rs...................................... |
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(ii) |
Rs...................................... |
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(iii) |
Rs...................................... |
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(iv) |
Rs...................................... |
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(c) Total |
Rs...................................... |
| 8. |
Indicate the computation of the net worth of the
undertaking or division referred to in item 2 which is transferred by
way of slump sale.
(Net worth of the undertaking or division should be computed keeping in
view the ratio mentioned in item 3(c) above. Please attach
separate sheet, if necessary) |
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Signed
Accountant |
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Certification |
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+ I/We
..............................................(name) have examined the
accounts and records of ........................ during the year
ended on ................. (name and address of the assessee)
+I/We have obtained all the information and explanations which to the
best of my/our knowledge and belief were necessary for the purposes 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. |
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| Place.................................... |
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| Date..................................... |
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Signed
Accountant |
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| Notes : |
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1.
+Delete whichever is not
applicable.
2. Accountant means the accountant as defined in Explanation
below sub-section(2) of section 288 of the Income-tax
Act..
3. The net worth in item7 should be computed in accordance with
clause (ga) of sub-section (1) of section 3 of the Sick
Industrial Companies (Special Provisions)
Act, 1985 (1 of 1986)
4. Please indicate details of free reserves separately in item 7(b).
5. This form shall be filed along with return of income duly
accompanied by copies of the profit and loss account and
balance sheet or audited profit and loss
account and balance sheet in accordance with the provisions of section
139
of the Income-tax Act, 1961.
6. Indicate separately the computation of net worth of each
undertaking or division transferred by way of slump sale. |
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Check List |
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1. This
form is required to be submitted for getting the benefit of
section 50B in case of slump sale.
2. This form is applicable to an assessee whose total incomes
includes any profits and gains from a 'slump sale' as defined in section
2(42C) of the Income-tax Act,1961 w.e.f. assessment year 2000-2001.
3. The form must be filled and signed by a
chartered accountant, and includes, in relation to any State, any person
who by virtue of the provisions of section 226(2) of the Companies Act,1956
is entitled to be appointed to act as an auditor of companies registered
in that State.
4. The notes provided in the form should be followed. |