Is the power of attorney holder liablle for capital gain tax for the property purchased on power of attorney, where the transfer of property not taken place but possession of property is with attorney holder?
1 Replies
prakash
(Chartered Accountants)
(35 Points)
Replied 03 June 2012
| Originally posted by : Imtiyaz Shaikh | ||
 |
Is the power of attorney holder liablle for capital gain tax for the property purchased on power of attorney, where the transfer of property not taken place but possession of property is with attorney holder? |
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Capital gain is matter of Sale/ transfer hence purchase and retaining possession whether or not on POA is not liable to tax.
Expalin why it appears so.
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