In a turn of events, the income tax department recently conducted a raid on a popular YouTuber hailing from Uttar Pradesh. Taslim, the creator behind the successful channel ‘Trading Hub 3.0,’ had his residence in Bareilly searched by officials. A staggering amount of ₹24 lakh in cash, along with gold jewelry and other valuable items, was discovered during the operation.
Taslim has been actively running his YouTube channel for the past year and has managed to accumulate a remarkable earning of nearly ₹1 crore. However, according to a report, he is currently under investigation due to allegations of earning this substantial amount through illicit means. In response, Taslim’s family vehemently denied these claims.
Specializing in share market-related content, Taslim’s channel ‘Trading Hub 3.0’ was launched in September 2018 and has garnered an impressive following of approximately 101,000 subscribers. Additionally, he also manages another channel called ‘Logic_Trading,’ which boasts around 41,600 subscribers.
Despite the accusations, Taslim’s family, particularly his brother Feroze, firmly believes that he has been wrongfully targeted in this matter. Feroze emphasized that their income is derived solely from their YouTube channel, and they have paid a substantial tax amount of ₹4 lakh on their total income of ₹1.2 crore. According to Feroze, “We do not engage in any illegal activities. Our YouTube channel provides us with a respectable income, and that is the truth. This raid seems to be a well-planned conspiracy,” he stated in an interview.
This recent raid on Taslim is part of a larger investigation initiated by the income tax department. Earlier in June, official sources revealed that social media influencers and content creators on platforms like YouTube and Instagram were being probed for allegedly concealing their true income and profits, often due to a lack of understanding regarding tax regulations.
The tax department has extensively gathered crucial information about these online influencers, including their brand endorsements, paid promotions, expenditure details, and dealings with social media platforms such as YouTube and Instagram. By leveraging data analytics and the TDS database, the department has identified individuals who have been evading tax obligations.
Last year, the Central Board of Direct Taxes (CBDT) introduced new provisions regarding Tax Deducted at Source (TDS) for benefits received in a business or profession. Section 194R of the Income Tax Act mandates a 10 percent deduction of tax at source for benefits exceeding ₹20,000 provided by any person to a resident.