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CBIC issues notification following Finance Act, 2023; compliance burden likely to increase significantly for these companies
Social media has made it possible for just about anybody to earn money by posting content. However an individual needs to know what the income tax law and other laws say about such an income, so that one does not get into trouble. Read here to know about the details.
Several large social media influencers are on the Income Tax radar following their travel posts to exotic locations.
IT Notices to Social Media Influencers: The social media influencers came under the radar of the I-T department after posting their travel to exotic locations and luxury shopping on social media platforms
The income-tax department has sent notices to 15 such influencers, who had flaunted their overseas holidays and luxury shopping, for paying zero or "substantially low" tax despite receiving hefty fees from companies whose products they promoted through their posts, a senior official told ET.