TRANSFER OF A PROPERTY IN NAME OF DAUGHTER

Alka Gupta (Querist) 26 March 2011 This query is : Resolved
i would like to know that if a lady having general power of attorney can transfer a land/house in name of her daughter/ son.What will be the procedure for that & will tax liablity arise in that case for donee?
will registration must for transfer or not to make te will effective

Thanks in Advance.

Alka Gupta
(C.A. Final)

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R.Ramachandran (Expert) 26 March 2011
Your post lacks clarity.
It does not say as to in whose name the property is.
Who is the POA holder.
The property would be transferred to whom? Whether the transfer would be a sale, gift, or what?
While in the earlier sentences you talk about transfer, in the last sentence you are talking about Will.
Please give complete facts clearly, and also pose your query properly for appropriate and clear answer.

bhagwat patil (Expert) 26 March 2011
POA holder can transfer the property to anybody as stated in POA.no tax liability to POA holder on consideration as he passes it to original owner. Last sentence is not clear.

Sri Vijayan.A (Expert) 27 March 2011
I think the author has combined many questions in one.
Clear question is needed.

Guest (Expert) 27 March 2011
G.P.A.HOLDER ENTER IN TO AGREEMENT FOR SALE OF SAID PROPERTY AND ALSO CAN TRANSPER THE SAME .TAX LIABILITY WILL BE OF OWNER.

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