Taxability under capital gain

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 November 2012 My client holds a power(Power of Attorney) for a residential house as owner is residing in other town. As per power of attorney he has all the rights to sale the particular asset.

When an asset was sold he was considered as seller in sales deed. Now in this case in whose hand capital gain will be calculated..? An original owner or my client holding power..?

Chintan Shah

Chintan Shah (Expert)
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28 November 2012 Capital gains will be calculated in the hands of the owner and not in the hands of the holder of power of attorney.

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