Taxability of Income in the hands of POA Holder
This query is : Resolved
Ramalinga H.B
(Querist)
27 January 2011
Dear Friends,
Mr. A enter into agreement with Mr.B to sell the land, & made an agreement to sell and Mr. B made full payment to Mr. A and Mr.B appoint Mr. C as registered POA Holder for the land. Later the land was sold to Mr. Z. is there any tax implication on Mr. C being POA Holder. All the payments & consideration made & received by Mr. B. Pls quote any case law/rules for this type of transaction.
Thanks in Advance.
RAM
Mr. A enter into agreement with Mr.B to sell the land, & made an agreement to sell and Mr. B made full payment to Mr. A and Mr.B appoint Mr. C as registered POA Holder for the land. Later the land was sold to Mr. Z. is there any tax implication on Mr. C being POA Holder. All the payments & consideration made & received by Mr. B. Pls quote any case law/rules for this type of transaction.
Thanks in Advance.
RAM
27 January 2011
POA holder is not the asessee in this case, so no tax liability.
Guest
Guest
(Expert)
27 January 2011
POA holder is not the seller& hence, no tax liability of attorney.
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