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Qualification:
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Dear Sir/Madam, I would appreciate your guidance on the capital gains tax implications for inherited property. My parents passed away in January 2021, and we, the heirs, got the property transferred to our names in 2023 through a succession certificate from the Sindh High Court. The property was originally purchased by our parents in 2009. If we decide to sell this property, would we be liable for capital gains tax? If so, how would the tax be calculated, considering the property's original purchase date and our holding period? Thank you for your clarification.
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