15 April 2013
Hi, one of my friend living in New delhi has got notice under section 143(2) and 142(1) and he has to appear before ITO either in self or through a representative. Now he wants to issue POA in favor of his younger brother who is a fresher chartered accountant. So, pls advice in what format this POA be issued! Whether POA will be on stamp paper and if yes, of how much value? If court stamp/revenue stamps can be affixed on a POA issued on plain paper? or a simple authorization letter will suffice?
Pls guide, its very urgent
Guest
Guest
(Expert)
15 April 2013
Court fees of Rs.50 is must. That may be on stamp paper or on simple letter affis Rs.50/- court fees stamps. formal 4-5 lines for of power of attorney (POA) will do. just write i hereby authorise Mr. CA to represent in my I Tax matters. sign of assessee and CA as accepted.
15 April 2013
Thanks a lot sir. Can you pls also guide whether ITO generally adjourns such hearing as my friend plans to appear before ITO and ask for adjournment so that he can take time and collect all details and documents required to be filed. Although in the notice it has been mentioned that no adjournment will be given unless details asked in points no. 1 to 12 is furnished. Pls guide.
15 April 2013
Pls also suggest whether this POA will be termed as General Power of Attorney or Special POA?
Guest
Guest
(Expert)
16 April 2013
GPA n if ur case is for A. Y. 2011-12, deadline to complete the case ll be 31.12.2013 n he will easily adjourn ur case. abt 1-12 points give reply atleast for few points, few of them ll be not applicable 4 u i guess .
ITO gave further time for 15 days to submit details and documents. Client has purchased and sold a property in that year and earned STCG of around 4 lac thereupon but has not shown there in ITR. Now what will happen and how ITO will consider it? How much penalty and interest can be imposed thereupon. ANy remedy or option to save. Client after selling that property purchased new property in lieu of that. Pls advice.
CAclubindia
