Shubham Agrawal (Company Secretary and Lawyer) 18 May 2020

Power of attorney

Can a power of attorney holder receive rent in his account on behalf of landlord if POA mentions that POA holder is authorised to receive it in his account on behalf of landlord? Is this valid from legal and income tax point of view??

Reply Follow

4 Replies

ADVOCATE KHUSBOO VERMA 18 May 2020

Find you answer here

https://vklegal.blogspot.com/2020/05/can-power-of-attorney-holder-lease.html

Thanks & Regards

Advocate Khusboo Verma

SHIRISH PAWAR, 7738990900 (Advocate) 18 May 2020

Helo,

Power of attorney holder can receive the monthly rent in his account if it is authorised in power of attorney.

Hemant Agarwal (ha21@rediffmail.com Mumbai : 9820174108) 18 May 2020

1. IF the POA document is duly registered and has specific clauses relating to rent receipts into his bank account, THEN the POA holder may receive rent, subject to transfer of entire rent amount to landlord in the same Financial Year (making it a contra entry) for the POA holder to avoid getting taxed as income from other sources.

Keep Smiling .... Hemant Agarwal
VISIT: www.chshelpforum.com