In case of sale of property through GPA (General Power of Attorney), who is responsible to report the capital gain, file income tax return & avail the benefit of re-Investment options? is the GPA need to report the capital gain and invest or the original owner of the property need to collect the money back from GPA and invest in his name? (The GPA is registered & allowing the GPA to sell and reaslise the money)
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Who is responsible for Capital Gain Investment
Replies (1)
GPA is executor only, the payment is received by GPA goes to the owner only , hence all tax liabilities and deductions available are in hands of actual owner only.
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