08 July 2014
If an NRI who gives power of attorney to her mother for property transactions and the same property is sold by the power of attorney holder by crediting the sale consideration amount in the account of power of attorney holder then who will be liable to pay capital gains and for capital gains exemption in whose name new house should be purchased?
08 July 2014
NRI would be liable for capital gains and also the house should be purchased in his name only as the power of attorney is given just to do the property transactions power of attorney holder is not the whole sole owner of the property.
CAclubindia
