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Capital gain

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(Querist)
02 May 2016 NRI Son sold property of mother in india.,.mother reside in USA.,son had power of attorney.,.now capital gain arrise.,.whether capital gain is of son or mother??

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CA CMA CS Ram Pavan Kumar Melam

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CA CMA CS Ram Pavan Kumar Melam (Expert)
02 May 2016 In this transaction, the son is only an agent to his mother (principal). It is innate rule that, principal is liable for the acts of the agent.

The transferor of the property is mother and not her son, who is POA. Hence, mother is assessable to capital gains tax.
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Rohin singh

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Rohin singh (Querist)
02 May 2016 thanks aloooooot sir for resolving my query.,.,u made my day..,:):):)
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CA CMA CS Ram Pavan Kumar Melam

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CA CMA CS Ram Pavan Kumar Melam (Expert)
02 May 2016 If you find my reply helpful, please score me by thanking at 'thank user'.
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