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capital gain

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(Querist)
11 July 2011 A person sold property on power of attorney basis. My question is that who is liable to pay capital gain tax. Original Buyer or power of attorney holder. I think that power of attorney holder will be liable to pay capital gain as he will be consider as deemed owner.
please solve the query. Pls suggest case laws if any..
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
11 July 2011 If the power of attorney is limited to selling the property then the original buyer would be liable to tax.
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