India: “Slump sale” taxation; income distribution by securitisation trust

India: “Slump sale” taxation

The KPMG member firm in India has prepared reports about the following tax developments (read more at the hyperlinks provided below).

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  • Tax rate in slump sale: The Delhi High Court held that a transaction was a genuine “slump sale” that qualified for specific tax treatment. In this case, the sale involved a “going concern” that also included ongoing service contracts, employment contracts, and other tangible and intangible assets such as technical know-how. The case is: Triune Projects Private Limited. Read a December 2016 report [PDF 334 KB]
  • Provisions amending Companies Act, 2013 are effective: Key provisions relating to the reduction of capital, variations of shareholders’ right and compromises, arrangements and amalgamations, and the list of pending proceedings to be transferred to National Company Law Tribunal are discussed in a December 2016 report [PDF 358 KB] prepared by the KPMG member firm in India.
  • Rules and forms for furnishing of statement regarding income distribution by securitisation trust: The Central Board of Direct Taxes issued guidance prescribing rules and forms in respect of income distributed to investors by securitisation trust. The effective date of the rules is 1 June 2016. Read a December 2016 report [PDF 293 KB]

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