Capital gain

Yes it is Transfer and Husband NRI will be liable to capital Gain tax.

However any income generated or Realised from further Sale by the wife,will be clubbed in the hands of husband under Clubbing Provisions.

Thanks

Would also appreciate if you could let me know the relevant provision under Income Tax Act.

Also will NRI husband be liable to file income tax return in India through its PoA or himself and also if the country in which they currently reside has DTAA with India then what would be the tax liability.

Thanks.