Income tax: Today is the era of online and people are earning crores of rupees by working online in different ways and the Income Tax Department has decided to conduct tax audit on such people as well. What is the whole matter, let’s know
Income Tax Department has raided YouTuber’s house regarding income tax. The tax department is probing a person named Tasleem for earning around Rs 1 crore through illegal means. However, Tasleem’s family has rejected these allegations.
Tasleem, a resident of Bareilly in Uttar Pradesh, runs a YouTube channel called ‘Trading Hub 3.0’, where he makes videos related to the stock market. According to his brother Firoz, Taslim pays income tax on his earnings and claims that he has already paid Rs 4 lakh tax on his total YouTube income of Rs 1.2 crore.
Feroze told that we are not involved in any illegal activities. We run a legit youtube channel through which we earn good income. This raid is a well-planned conspiracy. Tasleem’s mother has also alleged that YouTuber is being falsely implicated in the case.
The Income Tax Department has launched an investigation against some social media influencers and content creators on platforms such as YouTube and Instagram for allegedly not disclosing their income and profits.
Citing sources in the Income Tax Department, the report said that many such online content creators do not file their Income Tax Return (ITR) or filing due to ignorance of tax laws. Showing or telling less.
There is a contradiction between tax experts regarding the tax on youtubers and vloggers. In one article some people opined that vloggers can be considered as entrepreneurs. If their income is more than Rs 1 crore then tax audit will be applicable on them. However, if they are spending less time creating online content than in their regular job or profession, then the income from such content can be treated as “income from other sources”. Therefore, it should be taxed as per the income tax slab rates.
