Regarding power of attorney and capital gains tax
Gourav
(Querist) 02 April 2012
This query is : Resolved
Hi,
my father sold a land with Power of attorney and keraya Patharam(Sale deed) in 2002. Power of Attorney was registered in the Sub registrar office but not the sale deed. Buyer said that he would transfer the title to his name in 3 months. believing this we did not register at that time. Unfortunately the power agent still has not registered / transferred the land in his name. Our worry is when he sells the land now which is now worth more than 5 times of the sale price, who has to bare the CAPITAL Gains TAX. I guess legally my dad has to pay the Capital Gains Tax which is not fair on this case. Is it possible to Revoke the Power of Attorney or any other possibilities to protect ourselves. Land is still in my father name. Please suggest.
Regards
Gourav
Nadeem Qureshi
(Expert) 02 April 2012
Dear Gaurav
it is cheating, it is braech of trust, it can be settle with the another party.
feel free to call
