11 June 2010
rural land sale through power of attorney.. whether it is come in the definition of transfer in capital gain head.... and tell me that under which section it is considered for transfer
11 June 2010
A "power of attorney" is a legal instrument whereby one person gives another person the authority to act on his or her behalf as his legal representative, and to make binding legal and financial decisions on your behalf. Capital gain is a tax on profit made on sale price over indexed cost of acquisition, whther it is a sale under power of attorney or self and it will be taxed in the hands of the person who gives the POA.
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