In this article, let’s see about Income Tax For Indian Content Creators who are YouTubers, & Content Creators on various social media platforms.
Income Tax For Indian Content CreatorsFirst, let’s clear this bug, that here we are talking about INCOME TAX, and NOT GST.
Let’s say you’re a content creator, maybe a YouTuber, or someone who creates on Instagram, etc.
Let’s say you earned ₹5 lakhs per year on YouTube’s Ad Rev or via AdSense in your Site Or say, you sold a lot of PDFs through link in bio on Instagram or you just consulted people for a price.
Now let’s take that amount ₹5,00, 000.
This is the revenue.Now there are expenses. So we will minus it.
Let’s say our expenses were ₹1 Lakh.
Income = Revenue – Expenses
Income = ₹4 Lakhs.
Now where does this income go?
To your bank account. Which means you earned ₹4 Lakhs.
Let’s worry about the gst later.
For now, you made ₹4 lakhs.
And for income of ₹3-7 Lakhs, the tax rate is 5%.
So you pay ₹20,000 in income tax and go for a coffee with ₹3.8 Lakhs.