Latest news with #RashiKhanna
News18
10 hours ago
- Entertainment
- News18
Topper In Class 12, Aspired To Be An IAS — But Luck Led Her To John Abraham's Film
1/8 Can you guess this stunning beauty from Delhi, who first made her mark working at an advertising agency before stepping into the spotlight alongside Bollywood star John Abraham? 2/8 She is none other than Rashi Khanna. Known not just for her exceptional looks but also for her sharp intellect, Rashi Khanna truly embodies the phrase 'beauty with brains'. 3/8 Originally, she dreamt of becoming an IAS officer, dedicating herself to academics and ambitious goals. However, fate had different plans, guiding her toward the glamour and entertainment industry instead. Today, Rashi Khanna has carved out a successful career in both South Indian and Hindi cinema, impressing audiences with her versatile performances. Alongside her film work, she has also made a significant impact in the booming OTT world, continuing to grow and evolve as an artist. 5/8 Rashi Khanna topped her 12th board examinations and consistently excelled academically. She completed her schooling in Delhi and went on to graduate in English Literature. While her ambition was to pursue studies and join the civil services, destiny had a different path in store for her. In an interview, Rashi Khanna revealed that she initially aspired to be a singer but shifted her focus to IAS preparations during college. Ultimately, her path steered her towards acting, a career she never initially envisaged. Before stepping into acting, Rashi Khanna worked as a writer at an advertising agency. She then transitioned to modelling and subsequently acting. Rashi Khanna made her Bollywood debut with the film Madras Cafe (2013), starring opposite John Abraham, where she aimed to establish herself through her natural charm and dedication. She later starred alongside Nayanthara in the Tamil film Imaikkaa Nodigal (2018). Her notable work also includes the Telugu film Sardar (2022) and the web series Farzi (2023), featuring Shahid Kapoor in the lead role.
Time of India
12 hours ago
- Entertainment
- Time of India
John Abraham's co-star is a DU Lady Shriram College topper; was prepping for UPSC but became movie actress instead
Before becoming a familiar face in Indian cinema, Rashi Khanna had an entirely different path mapped out for herself. Born and raised in Delhi, she excelled academically from a young age, topping her Class 12 board examinations and later her university as well. She graduated from Lady Shri Ram College with a degree in English Literature, where she initially set her sights on cracking the UPSC and becoming an IAS officer. Coming from a middle-class background with no links to the entertainment industry, Rashi was never inclined toward films during her school years. In interviews, she has often shared that acting wasn't even a consideration—her focus was on building a stable career through hard work and self-reliance. First Steps Into Professional World Rashi's early professional life began in the corporate world, working as a copywriter at an advertising agency. It was during this phase that she began getting noticed for her presence and personality. While still preparing for the UPSC, she explored opportunities in modelling, largely due to the encouragement of people around her. What began as an experiment eventually opened doors to the entertainment world. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Top 25 Most Beautiful Women In The World Articles Vally Undo Bollywood debut with John Abraham Rashi's acting career took off in 2013 when she was cast in Shoojit Sircar's political thriller Madras Cafe, opposite John Abraham . She portrayed the role of the protagonist's wife in the film, marking her entry into the Hindi film industry. Though her screen time was limited, it was enough to leave an impression and pave the way for more prominent roles. South Indian cinema and OTT Following her debut, Rashi Khanna shifted focus to the South Indian film industry, where she built a strong portfolio. She starred in films like Imaikkaa Nodigal alongside Nayanthara, Bengal Tiger, Jil, and Sardar. In recent years, she has gained recognition in the OTT space with projects like Farzi, where she appeared alongside Shahid Kapoor, and the crime series Rudra. Rashi has often credited her journey to a mix of fate and relentless effort. While her original goal was far removed from acting, her discipline and adaptability helped her excel in a completely different field. Her story reflects a rare blend of intellect, ambition, and creative passion—qualities that have allowed her to thrive in the entertainment industry without any formal background or connections. Now in her mid-thirties and with over a decade in cinema, Rashi Khanna continues to evolve, balancing mainstream films, web series, and a strong presence on social media. From UPSC dreams to the film sets, her career remains a testament to how unexpected turns can often lead to fulfilling destinations.
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Business Standard
20-05-2025
- Business
- Business Standard
Weekend retreats or tax retreats? India's elite use farmland to save crores
It's a crisp Sunday morning. A sleek BMW winds its way past Gurgaon's high-rises, taking a sharp turn off the expressway onto a dusty trail flanked by green fields. The destination? A luxury 'farmhouse' where the owner hosts weekend brunches, grows exotic kale, and claims lakhs of rupees as tax-free agricultural income. Welcome to India's new farmland gold rush — where lush patches of earth promise more than just peace of mind. They offer lucrative tax breaks, weekend escape perks, and business opportunities that range from Airbnb-style farm stays to cafes selling jackfruit tacos and millet smoothies. But now, the taxman has entered the farm, armed with satellite imagery and transaction data, and he's asking questions. Context: In a rising trend among India's high-net-worth individuals (HNIs), agricultural land is becoming more than just a green investment—it's fast evolving into a strategic tax haven, business venture, and legacy planning tool. But while agricultural income is tax-exempt under Indian laws, recent scrutiny by the Income Tax Department reveals that not all such claims are what they seem. The Tax-Free appeal of Agricultural income Under Section 2(1A) of the Income Tax Act, agricultural income is exempt if it comes from: That means if your income is truly from farming — selling crops, leasing agricultural land, or running processing operations — you pay zero tax. This has encouraged many HNIs to buy farmland—often in or near urban centres like Noida, Gurugram, or Hyderabad—not only as an appreciating asset but also as a base for tax-free business ventures like organic farming, event rentals, or boutique stays. "Many farmhouses double up as artisanal retreats or even weekend petting zoos, hosting birthday parties, offering horseback rides, or running cafés serving organic fare," said Rashi Khanna, Associate Partner, DMD Advocates. Scrutiny Rising: IT Dept Cracks Down Though the exemption is legal, misuse is rampant. Tax officials are becoming increasingly wary of non-agricultural income disguised as agricultural, especially when high incomes are declared without corresponding agricultural outputs. In order to verify the authenticity of claimed agricultural income, the assessing officers ask the taxpayer to provide documentation and evidence for the verification of agricultural income. The evidence may include proof of land being agricultural land, proof of any agricultural activity in such land or proof of sale of agricultural produce, etc "As per section 271 of the IT Act, if the tax officers are satisfied that a person has furnished inaccurate particulars of their income such as falsely portraying the same as agricultural income, then they can initiate penalty proceedings and impose a penalty of up to twice the amount of tax sought to be evaded by such misuse or inaccuracy. There are many such instances where penalty was imposed for misuse of agricultural income. For instance, the Hon'ble Income Tax Appellate Tribunal, Chennai Bench in the case of ACIT, Chennai v Madhusudhana Reddy, has imposed penalty on the taxpayer where he claimed income as agricultural income, but did not produce any evidence or details for the same," said SR Patnaik, Partner (head - taxation), Cyril Amarchand Mangaldas. Mallika Joshi, Managing Partner at Law Offices of MSV, warns: "In Hyderabad and Jaipur, authorities used satellite imagery to bust fraudulent claims of high per-acre income from uncultivated land. This will likely expand to other cities." Red flags include: In such cases, penalties under Section 271 of the IT Act can amount to twice the tax evaded. Also, ITR-2 filers must now disclose detailed land and expenditure information. Why Agricultural land attracts HNIs Beyond tax exemptions, farmland appeals for various reasons: Lower upfront costs and stamp duty compared to urban property Stable long-term returns Cash-based transactions from produce sales Alternative business models: Airbnb stays, urban farms, organic delivery chains Succession planning through LLPs or family trusts "LLPs are popular because profits are taxed only once and can be freely repatriated to partners," said SR Patnaik, Head – Taxation at Cyril Amarchand Mangaldas. "Proceeds from sale of urban agricultural land are exempt under section 54B provided that the gains are invested in the purchase of another agricultural land and that land is held for a period of 3 years. Moreover stamp duty on agricultural land is always lower than stamp duty on urban residential land. The individuals these days are holding farmlands under LLP that are subjected to a lower rate of taxation. LLPs are subject to a tax rate of 34.94% on their total income, distinguishing them from other business structures. One key feature of LLPs is that the distribution of profits is exempt from tax, resulting in only a single layer of taxation. This factor plays a crucial role in reducing the tax burden for HNIs who choose to register their investments under an LLP," said Rashi Khanna, Associate Partner, DMD Advocates. Smart Structures: Trusts, LLPs & More To protect wealth and simplify generational transfer, HNIs are holding these farmlands via LLPs, private companies, or family trusts. These structures isolate personal and business assets, reducing risks while supporting smooth succession. Family offices structured as LLPs or private trusts help: Avoid multi-layer taxation Ensure tax-efficient rental income (e.g., Airbnb farmhouses) Facilitate legacy planning "Affluent families often prefer to hold or park their real estate assets in separate holding vehicles to separate personal assets from business assets. The holding structure can vary from a private limited company to a limited liability partnership to a private family trust, depending on the HNI's objectives. For example, a farmhouse acquired with the objective of generating rental income through AirBnB may be tax-efficiently held under a LLP since profit after tax is freely repatriable in the hands of the LLP partners. On the other hand, a farmhouse acquired with the aim of passing it on to future generations may be efficiently held underneath a family trust," said Keshav Singhania, Head – Private Client, Singhania & Co. Private family trusts or family offices, which are typically structured in the form of an LLP or trust, act as a separate legal entity. Therefore, such structures helps to segregate personal assets of the promoter family from the risks of business operations. Additionally, such structures also promote succession planning by providing a framework for the assets/ investments held under such structures to be passed onto future generations of the family. Lastly, efficient holding structure also assists in ensuring sustainable growth and longevity in wealth . Private family trusts or family offices, typically structured as LLPs or trusts, act as separate legal entities. This isolation protects the personal assets of the promoter family from the inherent risks of business operations. Additionally, assets held within these structures can be seamlessly passed down to future generations, aiding the overall succession planning process. Furthermore, these trusts and family offices contribute to ensuring sustainable growth and longevity in wealth. Compliance Tips for Farmland Investors " I would highly recommend that individuals who are claiming huge agricultural income to avail income tax and GST exemption, to ensure that their declared agricultural income is duly backed by evidence of agricultural output produce or sale of agricultural produce, landholding records, expenses incurred towards cultivation, etc. If their high agricultural income shown in ITR is without reflecting corresponding evidence of actual produce or sale, landholding records, expenses incurred on cultivation etc then it's going to be a red flag attracting penal consequences. Government may also investigate electricity and water usage patterns to assess actual farming activities," said Mallika Joshi, Managing Partner, Law Offices of MSV. In fact, ITR 2, applicable to salaried individuals with agricultural income exceeding Rs. 5,000 requires details such as expenditure incurred on agriculture, details of the land held for agriculture, whether the agricultural land is irrigated or rain-fed etc. Also, there is already a system in place for Income Tax Department to share data with GSTN. This will enable GST authorities to immediately come after individuals, declaring high agricultural income without corresponding evidence to back such declaration, and investigate whether the income in fact was being derived from activities attracting GST. If you're an NRI or HNI with agricultural land—or plan to invest—ensure you're legally compliant:
