Power of Attorny for Property
This query is : Resolved
27 February 2009
Hi,
If A gives Power of Attorny to B. B in turn sells A's property for 1 Crore.
In this Can A avoid tax liabilty for the sales income from Property.
Thanks in advance.
If A gives Power of Attorny to B. B in turn sells A's property for 1 Crore.
In this Can A avoid tax liabilty for the sales income from Property.
Thanks in advance.
27 February 2009
Hi,
As I can understand from ur case is that, Power of Attorney is a deed only for transferring the right of execution of some documents etc.. It does not take away the ultimtae responsilbility of Tax payment from A, who is the real owner of the Property.
As I can understand from ur case is that, Power of Attorney is a deed only for transferring the right of execution of some documents etc.. It does not take away the ultimtae responsilbility of Tax payment from A, who is the real owner of the Property.
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