Latest news with #NehaMehta
Hindustan Times
3 hours ago
- Business
- Hindustan Times
From kitchen makeovers to balcony extensions: How home renovations can reduce capital gains tax for property sellers
In 2023, Neha Mehta sold her 1,020 sq ft flat in Pune's Kothrud for ₹78 lakh. Two years earlier, she had invested ₹6.5 lakh in major renovations, installing a modular kitchen, replacing old tiles with vitrified flooring, enclosing the balcony with sliding glass doors, and upgrading the plumbing and wiring to modern standards. Planning to sell property? For capital gains tax, home renovation or other capital expenses count as cost of improvement and can be added to the acquisition cost. (Photo for representative purposes only)(Pixabay) When calculating her capital gains tax, she included these expenses to her cost of acquisition as 'cost of improvement.' She kept detailed, itemised GST-compliant invoices and made all payments via bank transfer. The Income Tax Department flagged her return for review due to the sizable deduction, but the claim was accepted in full. Neha's case shows that well-documented, value-enhancing renovations can successfully reduce capital gains tax even under scrutiny. Capital upgrades, not routine repairs For the purposes of computing capital gains taxes, home renovation expenses or expenses of capital nature shall be regarded as cost of improvement of the asset and can be added to cost of acquisition. Such renovation expenses may include expenses relating to structural additions, alterations, and upgrades, further constructions and fixtures that increase the value of the asset. Such expenses should not be in the nature of routine repair, maintenance or cleaning. In essence, only capital expenditure improving or adding to the property's value can be added to the cost of acquisition/improvement as eligible expenses. 'Routine maintenance, repairs, whitewashing, painting (unless as part of a major renovation), property tax, utility bills, and expenses claimed under other tax heads are not eligible for offsetting capital gains,' says Alay Razvi, managing partner, Accord Juris, a law firm. Generally, the current owner cannot claim renovation expenses incurred by the previous owner as the same would already be claimed as cost of improvement while computing capital gains taxes for the previous owner. 'However, in case of inherited property, where the cost of acquisition of the previous owner is deemed to be the cost of acquisition of the current owner, then any renovation expenses incurred by the previous owner can be claimed as cost of improvement by the current owner, says SR Patnaik, Partner (head - taxation), Cyril Amarchand Mangaldas, a law firm. GST bills must be clear Since 'renovation' is deemed as 'construction' under GST, vague or generic invoice descriptions can lead to denial of eligible credit. 'Composite invoices should be avoided, as they hinder segregation of eligible items. Clear, itemized documentation is crucial to substantiate ITC claims during GST assessments,' says Karan Sarawagi, Advocate, Bombay High court. GST Invoices with details may be helpful in proving the authenticity of capital nature of expenses helps identify and justify costs. 'Date of purchase justifying the indexation claim when it was purchased and proper documentation avoids disallowances of claims,' says Jain. Also Read: Planning to sell a property gifted by your parents? This is the amount of tax that you will have to pay Further, obtain municipal permissions, completion certificates. Take before-and-after photos if possible. 'Avoid claiming personal/lifestyle expenses as property improvement. Keep all banking/payment records,' says Razvi. Renovation expenses may include expenses relating to structural additions, alterations, and upgrades, further constructions and fixtures that increase the value of the asset.(HT Graphics) Big claims draw scrutiny There may be a likelihood of tax scrutiny if the renovation expenses are very high without any proportionate improvement of property and there are no adequate invoices or documentation to show such expenses. 'Claiming renovation expenses, especially large or unusual ones, can increase the likelihood of tax scrutiny, particularly when used to reduce capital gains on property sales. However, with proper documentation and strategy, taxpayers can safeguard themselves effectively,' says Vivek Jalan, Partner Tax Connect Advisory Services, a professional services firm. Anagh Pal is a personal finance expert who writes on real estate, tax, insurance, mutual funds and other topics
News18
17-07-2025
- Entertainment
- News18
Neha Mehta Is ‘Open To Return' To Taarak Mehta Ka Ooltah Chashma
Following Neha Mehta's departure from Taarak Mehta Ka Ooltah Chashmah, Sunayana Fozdar stepped into the role of Anjali Mehta. For over 15 years, Taarak Mehta Ka Ooltah Chashmah has been a staple of Indian television, bringing endless laughter and entertainment to its dedicated audience. Despite its long run, the show remains a beloved favourite, with its cast of quirky characters and humorous storylines. However, behind the scenes, the show has seen several cast changes over the years, including the departure of Neha Mehta, who charmed viewers as Anjali Mehta. In a candid interview with Telly Masala, Neha Mehta, who played the cherished role of Anjali Mehta, expressed her willingness to reprise her character in the show. When asked if she misses her co-stars, Neha responded warmly, 'Miss nahi karti, sadev mere hriday mai hai, channel on karo, TV on karo, mai vaha hu voh yaha hai (I don't miss them. They are always in my heart. I switch on the channel and TV, I can see them)." Regarding the possibility of rejoining the programme, Neha said, 'Asit (Asit Modi) sir bolenge toh unke liye sab kuch kar lungi. (If Asit sir says, I will do everything for him)." Her words imply a deep affection for the show and its creator. Neha Mehta expressed her willingness to return as Anjali Mehta, stating she would love to come back if her audience requests it. In the same conversation, she added, 'Audience ke liye sab kuch kar lungi. Meri audience agar bole aap bano Anjali Mehta vapis toh mai bann jaungi. Vaise toh mai hu hi. Toh uljano mai fasna Neha Mehta ka kaam hi nahi hai. Voh toh behti rehti hai (I would do anything for the audience. I will be Anjali Mehta again if my audience asks. Although I am already here. So, getting caught up in complications is not Neha Mehta's style. She just flows)." Her words demonstrate her dedication to her fans and a flexible attitude towards her craft. Neha Mehta's exit from Taarak Mehta Ka Ooltah Chashmah in 2020 left fans stunned. According to the actress, the reason for her departure was payment issues. In an interview with Bombay Times, Neha revealed, 'I acted in Taarak Mehta as Anjali for 12 years before quitting in 2020. The last six months' money is pending." She further shared, 'After I quit the show, I called them a few times regarding my pending dues. I don't like complaining… hopefully, there will be a solution soon and I will receive my hard-earned money." Despite her remarks, there has been no update on the matter since. First Published: July 03, 2025, 19:16 IST
Pink Villa
03-07-2025
- Entertainment
- Pink Villa
When Taarak Mehta Ka Ooltah Chashmah's Anjali Mehta wished to return to the show amid rumors that her dues weren't cleared
Taarak Mehta Ka Ooltah Chashmah, known to be one of the cult sitcoms of Indian Television screens, never fails to entertain. Despite being on air for over 15 years, the show continues to entertain the audience. In this long journey, several actors, who were a part of the show since its inception, bid goodbye to the show as years passed. One of them is the audience's beloved actor, Neha Mehta, who played Anjali Mehta in the show. The actress reportedly took an exit due to her pending dues. When Neha Mehta spoke about her return to Taarak Mehta Ka Ooltah Chashmah Earlier, while speaking to Telly Masala, Neha Mehta had mentioned how she is open to returning to Taarak Mehta Ka Ooltah Chashmah again to portray her much-loved role of Anjali Mehta. Upon being asked if she misses the cast of the show, Neha Mehta had shared, "Miss nahi karti, sadev mere hriday mai hai, channel on karo, TV on karo, mai vaha hu voh yaha hai (I don't miss them. They are always in my heart. I switch on the channel and TV, I can see them)." When asked if she would rejoin the show to portray her character again, Neha said, "Asit (Asit Modi) sir bolenge toh unke liye sab kuch kar lungi. (If Asit sir says, I will do everything for him)." The actress even shared how she would love to return to the show if the audience demands for it. Mehta added, "Audience ke liye sab kuch kar lungi. Meri audience agar bole aap bano Anjali Mehta vapis toh mai bann jaungi. Vaise toh mai hu hi. Toh uljano mai fasna Neha Mehta ka kaam hi nahi hai. Voh toh behti rehti hai (I would do anything for the audience. I will Anjali Mehta again if my audiences say. Although I am. I don't get trap in difficulties, I go with the flow)." Why did Neha Mehta quit Taarak Mehta Ka Ooltah Chashmah? When Neha had taken an exit, she claimed that there were payment issues, which is why she had been leaving the show. While speaking to Bombay Times, the actress had said, "I acted in Taarak Mehta as Anjali for 12 years before quitting in 2020. The last six months' money is pending. After I quit the show, I called them a few times regarding my pending dues. I don't like complaining... hopefully, there will be a solution soon and I will get my hard-earned money." However, there has been no update after the actress shared this issue. For the uninformed, Neha Mehta played Anjali Mehta from 2008 to 2020. She was a part of the sitcom ever since it premiered. After her exit, Sunayana Fozdar was roped in to play this character. Shailesh Lodha, who played Taarak Mehta, also took an exit from the show in 2022. At present, Sacchin Shrof is playing the role.
