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A PoA is a legal document that allows a trusted person in India to handle your property sales, bank transactions, or tax filing on your behalf while you are abroad. It is essential under FEMA for NRIs managing Indian assets remotely.
Yes, a PoA for the sale or purchase of immovable property must be registered at the sub-registrar's office after payment of stamp duty. Whereas unregistered PoAs are invalid for executing sale deeds.
There are generally three types of PoA: Special PoA, General PoA, and Irrevocable PoA.
To execute a PoA from abroad, an NRI must draft it on stamp paper, sign it in the presence of witnesses, have it notarized, have it apostilled or attested at the Indian Embassy, and then copy it to India for registration.
Yes, an authorized PoA holder can e-file ITR-2/3, deposit TDS under Section 195, and issue Form 16A.