I have a power of attorney for an agricultural land I"m making expenses for that land to convert it into some residential plots. I"m having expenses bills in my name can the landlord claim expenses in Income Tax even bill is in my name
Income tax - Property (Regarding expenses Claim)
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Power of attorney expenses: landowner can claim deductions only if legally and financially attributable to the landowner.
Deductibility of conversion or development expenses depends on legal and financial attribution: a Power of Attorney alone does not suffice; the person who incurs and pays expenses as evidenced by bills and payments is entitled to claim deductions. If expenditures are made on behalf of the landowner and supported by a PoA deed or agreement plus reimbursement or accounting records, the landowner may claim them; otherwise the assessing officer may disallow the claim. (AI Summary)
Deductibility of conversion or development expenses depends on legal and financial attribution: a Power of Attorney alone does not suffice; the person who incurs and pays expenses as evidenced by bills and payments is entitled to claim deductions. If expenditures are made on behalf of the landowner and supported by a PoA deed or agreement plus reimbursement or accounting records, the landowner may claim them; otherwise the assessing officer may disallow the claim. (AI Summary)
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