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Transfer of asset in india by non-residents

CA. Karthik Reddy MNS (Practicing Chartered Accountant) (92 Points)

17 June 2016

Assessee is resident individual aged about 80 years.He has two sons and some of the properties of d assessee are registered in the name of his sons.They are not interested to coming back to India.Now father wants to sell the said assets.My question is,is it possible to sell the said assets by father acting his sons behalf.If possible under which section.Please guide me n its urgent.

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3 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160322 Points)
Replied 10 July 2016

By way of GPA obtained from the owner son/s in his favour. Either sighed and registered with sub-registrar in the jurisdiction of the property in person. OR executed in the country of residence of the son/s, and attested by Indian Consulate/Embassy.