Hello all,
My father inherited some properties from his father (my grandfather) in the late seventies. Last month my father transfered these properties to my name by way of a settlement deed. The deed shows the values of the properties as decieded by the Governments fair value chart.
My question is, if I sell the properties next month what will be my CGT liability.
Will it be from the initial cost to my grandfather or will it be from the new declared fair value price.
In other words would I be liable for short or long term CGT.
And from which price will this be calculated.
CAclubindia
