Sir, if all the partners of a firm has issued a power of attorney or ownership to sell or use the industrial plot of firm to a individual who is blood related to partners, whether is attract provision of Income tax, and if individual sold the property and the consideration received in the name of individual, then capital gain is to be paid by individual or firm. urgent reply needed.
thanks in advance.
The power of attorney given to any person has no right to transfer the property.Any transfer of property is not valid as per the Power of attorney act
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