Taxability under capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 November 2012
My client holds a power(Power of Attorney) for a residential house as owner is residing in other town. As per power of attorney he has all the rights to sale the particular asset.
When an asset was sold he was considered as seller in sales deed. Now in this case in whose hand capital gain will be calculated..? An original owner or my client holding power..?
When an asset was sold he was considered as seller in sales deed. Now in this case in whose hand capital gain will be calculated..? An original owner or my client holding power..?
28 November 2012
Capital gains will be calculated in the hands of the owner and not in the hands of the holder of power of attorney.
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