Tag Archives: #OnlineContentCreators

What is the limit for starting book writing for the online content creators?

Bookkeeping Limit   Bookkeeping Limit in India, online content creators required to start bookkeeping when their gross receipts or turnover from their online activities exceed ₹2,50,000 in a financial year. This limit outlined in Section 44ADA of the Income Tax Act, which one specifically designed for professionals, including digital content creators. Once the gross receipts… Read More »

What are the important points to consider before drafting a balance sheet for the online content creators?

Asset and Liability Evaluation     1. Segregation of Income Streams: Online content creators often have diverse income sources, including ad revenue, sponsorships, merchandise sales, and affiliate marketing. It’s essential to categorize and segregate these income streams appropriately in the balance sheet to provide a clear picture of their earnings. 2. Expense Classification: Properly classifying… Read More »

Is statutory audit required for the online content creators?

Statutory audit for online content creators Statutory audit for online content creators,  Statutory audits requirements for online content creator largely depend on the jurisdiction and the scale of their earnings. In many cases, a statutory audits might not be require for individual content creators who earn modestly. However, if the online content creator’s earnings surpass… Read More »

Are YouTubers subjected to tax audits?

YouTubers Tax Audit Yes, YouTubers can be subjected to tax audits. A tax audit is a formal examination of an individual’s or business’s financial records and activities to ensure accurate reporting and compliance with tax laws. YouTubers, as online content creators, earn income from their videos through various sources such as ad revenues, sponsorships, and… Read More »

What is the process for e-filing ITR for online content creators, and what are the steps involved?

E-Filing Process for Online Creators E-Filing Process for Online CreatorsT, he process for e-filing Income Tax Return (ITR) for online content creators involves several steps to ensure accurate reporting and compliance. Here’s a breakdown of the process: 1.Gather Financial Information: Collect all your financial documents, including income statements, expense records, Form 16 (if applicable), and… Read More »