One big company wants to sell off majority of its business (Assets & Liabilities) through slump sale. Following will be the approximate figures are
|
Fixed Assets |
180 |
|
Current Assets |
40 |
|
Liabilities /Loans |
-680 |
|
|
|
|
Net Assets taken over by Buyer |
-460 |
|
|
|
|
|
|
|
Consideration given to Seller |
-180 |
|
|
|
|
So total gain to seller is |
460+180 |
Is there any applicability of VAT AND CAPITAL GAIN Under Income Tax Act.
CAclubindia
