Form 3CEA

	FORM NO. 3CEA
	[See rule 6H]
Report of an accountant to be furnished by an assessee under sub-section (3) of section 50B of the Income-tax Act, 1961 relating to computation of capital gains in case of slump sale

1.	Particulars of the assessee effectin the slump sale :		.......................................
	(a)	Name	.......................................
	(b)	Address	.......................................
	(c)	Permanent account number	.......................................
	(d)	Nature of business
2.	Details of undertaking or division, transferred by way o slump sale :
	(a)	Address/Location	.........................................
	(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)	..........................................
	(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		..........................................
	(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 :
	(i)		Rs......................................
	(ii)		Rs......................................
	(iii)		Rs......................................
	(iv)		Rs......................................
	(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)		. ..........................................

		..........................................................
		Signed Accountant



	Certification

⁺ 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.


Place....................................		.......................................................
Date.....................................		Signed Accountant

Notes :
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.

	Check List
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.