3 weeks ago

Social Media Creators Face Tax, GST and Filing Obligations

Income tax return for social media creators: Last date, ITR forms, GST obligations and more · livemint.com

Social media creators can earn money in many different ways.

This money is usually treated as taxable income.

They need to keep track of payments from platforms, brands, affiliates, fans and merchandise.

For FY 2025-26, some creators with business or professional income must file their return by 31 August.

Some may use ITR-4, while others may need ITR-3.

Eligible creators may be able to use a simplified presumptive-tax method.

GST registration may be needed after turnover crosses the applicable limit.

Brand payments and free products can also create TDS or other tax responsibilities.

Key facts

Relevant deadline: 31 August for taxpayers with business or professional income whose accounts are not required to be audited, for FY 2025-26.
Possible ITR form: Eligible taxpayers may use ITR-4 under presumptive taxation; others may need ITR-3.
Presumptive taxation: Under Section 44AD, eligible businesses can generally declare 6% of eligible digital receipts as presumptive income, subject to conditions.
GST threshold: GST registration generally applies when annual aggregate turnover exceeds ₹20 lakh.
Special-category threshold: A lower ₹10 lakh GST threshold applies in certain special category states.
Other tax issues: Brand payments may attract TDS after the prescribed threshold, while free products or benefits may have implications under Section 194R.

livemint.com · 3 weeks ago