Hi,
Possibly, yes, as you have rented out the property and private residence relief will not cover this period.
If you gift the property to your father, you would need to obtain the market value of the property at the time of gifting and convert the value to pounds sterling.
You will also need to do the same for the value at which you acquired the property.
Helpsheet HS283 (
HS283 Private Residence Relief (2024)) will help you work out how much private residence relief you can claim.
There is a capital gains calculator (
Tax when you sell property) to help you work out the gain.
It should be reported in a self assessment tax returns on supplementary page SA108.
If you had to pay capital gains tax in India, you can claim a credit for this in SA106.
Thank you.