Taxation For Influencers

 


Introduction

This article's information is about capital gains on shares, providing valuable insights and strategies to maximize your profits. Whether you are a seasoned investor or just starting, understanding the nuances of Capital Gain on Shares is essential for achieving financial success.

Taxation On Influencers From GST Point Of View:

Influencers and bloggers who earn more than Rs 20 lakh in a financial year or Rs 10 lakh if they live in a special category state must register their services under the Goods and Services Tax (GST) law.  Under GST, services are taxed at the rate of 18%.

Click here for hassle-free GST registration:

Taxation On Influencers From The Income Tax Point Of View :

The Central Board of Direct Taxes (CBDT) announced that a TDS of 10% will be applied on freebies and incentives valued at more than Rs 30,000 received from businesses for promotions under section 194J of the Income Tax Act, there was no tax on the income of social media influencers.

The tax deducted at source (TDS) is only required to be paid if the product or freebie is kept; if it is returned to the sponsor when the promotional activity is over, no TDS will be assessed. TDS would be applicable to things like automobiles, complimentary tickets, mobile phones, international travel, gadgets, and other benefits offered by the brand.

The sector has embraced the new tax laws for the influencer market. It is believed that every influencer would hesitate before accepting a brand promotion since they will have to pay taxes. As a result, there will be more customer confidence in the interaction between influencers and brands.

Apply here for Income tax filings


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