A full-year income and expense tracker for an independent artist or music business entity in India. All figures in Indian Rupees (INR).
Artist / Entity Name
Section 1: Income
Live Performance Income
Recording / Streaming Income
Sync and Licensing Income
Merchandise Income
Other Income
Section 2: Expenses
Recording Expenses
Marketing Expenses
Touring Expenses
Merchandise Cost of Goods
Professional Fees
Other Expenses
Section 3: P&L Summary
Section 4: Tax Notes
GST
If GST-registered (turnover exceeds INR 20 lakh threshold), all service income (live fees, sync fees, teaching) should include 18% GST on invoices. Input tax credit is available on GST-applicable expenses.
Income Tax: Artist income is generally taxable under "Income from Business or Profession" (Section 44AA of the Income Tax Act 1961).
- Maintain proper books of account if turnover exceeds INR 25 lakh (for professionals)
- Advance tax payments are required quarterly (September 15, December 15, March 15) if tax liability exceeds INR 10,000 for the year
- Consult a CA who understands entertainment/music industry accounting
TDS Received: If promoters, venues, or corporate clients deducted TDS on your fees, record the amounts received and collect Form 16A to claim credit in your ITR filing.
Document prepared by: Financial year: CA reviewed: YES / NO Last updated:
Free to use · Part of the Indie Music India toolkit · Updated September 2026