Dear experts,
What is the guidance on Form 26QB for plot purchased under power of attorney
Thank you.
7 Replies
sabyasachi mukherjee
(27574 Points)
Replied 16 July 2023
Post details of plot purchased.
form 26qb purchased for flat which is a seperate distinction.
form 26qb purchased for flat which is a seperate distinction.
Lokesh
(Student)
(48 Points)
Replied 17 July 2023
Thank you Sabyasachi. Could you please also guide if the plot sold through power of attorney then obviously there is no registry and no stamp duty paid. In that case how to show capital gains in the ITR filing
Lokesh
(Student)
(48 Points)
Replied 18 July 2023
Sorry for confusion. I mean for example in Gurgaon, Plots registry and sale deed is stopped in many areas/unauthorized colonies. So in such scenarios people are doing buying and sale through Power of attorney
sabyasachi mukherjee
(27574 Points)
Replied 19 July 2023
Lakesho
this is not within the purview of taxation. obviously some circulars are there in such areas.
this is not within the purview of taxation. obviously some circulars are there in such areas.
Lokesh
(Student)
(48 Points)
Replied 19 July 2023
Thank you Sabyasachi. I mean end of the day person is receiving amount from a transaction (though through POA in this case) and would have to shows in ITR. That's the thing, how does capital gains and 26 QB is shown in such transactions to be income tax compliant
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