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.
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.
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!
@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).
Ca Abhishek Jain