Sir,
A person transfer his land to power agent. Then That person subsequently transfer his land to Some other person.
1. My Question is The Original Owner of Land is whether liable for tax if he get some consideration from power agent.
2. What is the impact if he doesn't have without Consideration?
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Owner For Capital Gain
Replies (5)
Power agent means
Power agent means person on behalf of another..
I think the original owner liable to pay tax on short term or long term capital gain.
Power of attorney holder has only the rights to use or dispose.. but does not become the owner
the owner and on sale will have to pay capital gain tax
the owner and on sale will have to pay capital gain tax
AUDIT TVR
THE ORIGINAL OWNER HAS THE SOLE DISCRETION TO TRANSFER HIS RIGHTS TO ANOTHER PERSON.
POWER OF ATTORNEY can be transferred.
THE ORIGINAL OWNER HAS THE SOLE DISCRETION TO TRANSFER HIS RIGHTS TO ANOTHER PERSON.
POWER OF ATTORNEY can be transferred.
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