Capital Gain Tax on sale of inherited overseas property and claiming Foreign tax credit relief

I am a UK resident and plan to sale the inherited property in India which I inherited following the death of my father . I have to pay 23% capital gain tax as per the India law(In Indian Rupees) on sale of this property.The property was acquired by my father in 2001.I will get the certificate of sale deed including capital gain tax paid(In Indian Rupees,INR). I will convert these INR ruees to GBP as per the exchange rates table for the corresponding years. I have been completing online HMRC self assessment tax return all the years . My queries are 1- Do I need to tick YES on question mentioned on Page 1 of 3 (Tailor your return): If you received any foreign income,do you need to complete the FOREIGN SECTION?Please check help before selecting. 2-Where is this foreign section in the form? 3-Do I need to complete form SA 106 (Page F6 ,Q 33 to 40)as mentioned earlier in the threads. If yes ,then queries regarding these questions: Q33: Amount of chargeable gain under UK rules( Does that mean the capital gain in INR converted to Uk GBP) Q34: No of days over which UK gain accrued; ? what is this figure. Q35 Amount of chargeable gain under foreign tax rules:Will this be the same figure as answer in Q33 Q36 No of Days over which foreign gain accrued; Does this mean days between acquistion and disposal of property? Q37: Foreign tax paid: Convert the capital gain tax paid in india ,INR to UK GBP and enter the amount. Q39:Total Foreign Tax Credit relief on gains:I guess fill the amount entered in Q37 Total Foreign Tax paid. Q40: Special Witholding Tax; Havent got a clue what this? Where does the annual exempt amount(Personal capital gain tax free allowance £6000/-) to be entered. This form SA 106 would be submitted along with the self assessment form,I guess. Many thanks

Please reply Thanks

Hi mahavira27,
As you inherited the property on the death of your father, you will need to work out if you have any UK capital gains tax to pay.  
You will need to obtain the value of the property when your father died and convert this to pounds sterling, using a just and reasonable exchange rate in operation at the time.  
You do the same with the disposal value and the disposal costs.  
The calculator at Tax when you sell property, will be able to help you calculate any UK gain arising from the disposal.  
Please also convert the Indian tax paid on the disposal to pounds sterling and claim a foreign tax credit.  
The gain or loss and foreign tax paid, will be declared in the foreign section of the self assessment tax return on paper at SA106 (foreign) or the capital gains section of the online tax return. You can claim up to 100% of the foreign capital gains tax paid and set it against the UK capital gains tax payable.  
This will give you credit for tax already paid and prevent you paying the same tax twice (double taxation).  
The exchange rate is not set in stone, which is why you have a choice. Under the terms of Self Assessment, we do not provide an official exchange rate and the onus is on the individual to use a just and reasonable exchange rate for each acquisition and disposal.    
For your convenience, there are exchange rates at:-
Exchange rates from HMRC in CSV and XML format
and for older rates at:-
Foreign exchange rates and spot rates: 1 January 1989 to 31 March 2009.
You are free to use any of the supplied rates or one of your own choosing.
Thank you.