The web has actually made it possible for people to develop material and monetise it over numerous social networks websites such as Twitch, YouTube, Instagram, X (previously called Twitter) and others. As the majority of these social networks sites are based abroad, how will a person who makes money from these sites get taxed? How will profits from social networks be taxed according to earnings tax laws?The earnings made from social networks websites such as X, Instagram, YouTube will be taxed depending upon the head under which it is categorized for a person. It can be categorized either under ‘Income from organization and occupation’ or ‘Income from other sources’. “If the individual getting earnings from social networks sites is completely participated in material development on a whole-time basis and income made from social networks is the main income source, then it will be categorized under revenues and gains from service or occupation and taxed appropriately. If the individual is delicately making and it is not a considerable quantity in contrast to his other earnings, then it is categorized as earnings from other sources and taxed appropriately,” states Avinash Shekhar, CEO and Founder, TaxNodes, a tax filing platform. “The level of activity along with the quantum of earnings would relate to choose in which head earnings from social networks will be taxed,” stated Aarti Raote, Partner, Deloitte India, an organization consultancy com
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