New Delhi. If you also earn from YouTube, then you should be careful now. You should maintain a complete account of your earnings and pay taxes to the Income Tax Department. Additionally, you should avoid creating any videos on YouTube that fall under the category of illegal activities. We are giving you this advice because the Income Tax Department in Uttar Pradesh has raided the home of a YouTuber. The officials claim that this YouTuber has earned income through illegal means. However, the details of these illegal earnings have not been disclosed by the Income Tax Department yet.
The case is from Bareilly. The Income Tax Department conducted a raid at the home of a YouTuber named Tasleem here. During the raid, they seized Rs. 24 lakhs in cash from the house, which has been confiscated by the department. Tasleem has earned one crore rupees through his YouTube channel. The YouTuber is accused of earning money through illegal means. On the other hand, Tasleem’s family has claimed that the raid was a conspiracy, stating that earning money from YouTube is not a crime. They have also mentioned that four lakh rupees in taxes have already been paid on the earnings from YouTube.
Tasleem creates videos related to the stock market. His brother, Firoz, says that Tasleem’s YouTube channel ‘Trading Hub 3.0’ focuses on sharing videos related to the stock market. Firoz claims that they have already paid four lakh rupees in taxes from the 1.2 crore rupees income earned through YouTube. The raid seems to be a well-thought-out conspiracy. The Income Tax Department has not yet provided much information regarding the raid.
Earnings from YouTube are considered business income As per a report by CNBC-TV18, earnings from YouTube are considered business income. Chartered accountant Ruchika Bhagat states that if the total income is more than one crore rupees, then the YouTuber must get an audit of their accounts under section 44AB of the Income Tax Act. This audit will be conducted by a registered chartered accountant.