Seeking some advise on doing taxes from income I receive from Udemy

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Naresh498
Naresh498 Posts: 1 Community Champion rank
in Introductions

Hi! I am an instructor in Udemy, and I have a couple of courses through which I started making income, and I need some advise or guidance on how taxes can be done through the income from Udemy, I understand that Udemy will not provide tax advise on this, but if you are an instructor from India or you have some idea on how this can be done, please let me know, it seems like not all accountants here are aware of Udemy, and It helps if you help me navigate through the right channel.

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  • PaulS
    PaulS Posts: 56 Community Champion rank
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    Hey Naresh,

    I don't know about Indian tax law, but I would imagine the concepts are similar to Australia, US , UK etc.

    1: Personal income (from any source e.g. Udemy not pre-taxed) will attract a tax liability

    2: Income derived (from any source e.g. Udemy) as a commercial enterprise will attract a tax liability

    What do you do now when you file an income tax return to your local Tax authority, I would imagine you'd need to declare other income on the return.

    Call your "Income Tax Department" they'll advise you.

  • ThaMilan
    ThaMilan Posts: 130
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    I declare income from Udemy courses like if Udemy was a client. I also work as a Marketing consultant and here in Portugal there is not such a thing as "income from websites or marketplaces", so my accountant advised me to add Udemy as a "client" in the income report. Hope this helps you!

  • CA_Abhishek
    CA_Abhishek Posts: 33
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    @Naresh498
    hi naresh, It's Ca Abhishek Jain. If you need tax planning and filing assistance for Udemy income you can contact me.

    Pl note 31.7.23 is the last date to file itr and claim FTC (Withhold tax by Udemy in USD as per form 1042-S).

    Thanks
    Best regards
    Ca Abhishek Jain

    Website: https://tax2save.in/service/global-income-tax-filing/

  • CA_Abhishek
    CA_Abhishek Posts: 33
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    Udemy deducts Tax from your income from Udemy. However, you can claim that withholding back while filing your Indian tax return as per the India - US tax treaty.

    As you are providing service to Udemy US, you also have to apply for GST and do all the GST compliance throughout the year. However, you can apply for exemption from payment of GST as you are exporting the service out of india. It would be little technical to write all the steps here.

    If anyone needs assistance in income tax return filing + Annual GST compliance for the income from Udemy US, i would be happy to assist as a Certified Chartered Accountant.

    Important Note: You may loose the FTC [Foreign Tax Credit] permanently for the particular year, if you do not apply for rebate before filing your ITR/Revised ITR and similar is also applicable for GST if you did not applied for GST exemption at earliest.

    Regard

    Ca Abhishek Jain

    Tax2Save.in

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