Does power of attorney work in India?

A power of attorney can be used by a non-resident Indian for the sale or purchase of property, managing finances, and investments, etc while abroad. To validate a POA for NRIs it must be executed on a stamp paper according to the regulations of the country it is executed in.

Is power of attorney valid all over India?

No validation for domestic POA that is made in India is require the validation in case POA is made and notarised abroad then it is required. yes, the power of Attorney is valid universal whether given in any state, however, the attorney holder shall not perform any such duty which is not mentioned in the deed itself.

What is the procedure to get power of attorney in India?

Obtaining a power of attorney requires two processes for property and financial matters.

1. You have to get the power of attorney notarized.
2. You have to send the power of attorney duly notarized and apostilled to the Indian Consulate near you.

Is power of attorney safe?

Giving a person power of attorney would mean that the principal would be responsible for his agent’s action. Power of attorney is an extremely dangerous document if not given properly. This is because, when a person appoints someone be their Agent, he is basically sharing the decision-making power with the Agent.

How long is a power of attorney valid?

Another important thing to note here is that a PoA remains valid only till the life of the principal. Within their lifetime also, one can revoke the PoA. An SPA gets revokes on its own as soon as the specific transaction for which it was executed is completed.

Is stamp duty required for power of attorney?

A power of attorney attracts stamp duty which varies from State to State. Article 41 of the Karnataka Stamp Act prescribes the stamp duty leviable. Generally, the stamp duty payable for a power of attorney is Rs 100. For registration , the fee payable is also Rs 100.