India Artist Management Toolkit, Money Kit
Use this every day (or weekly if volume is low) to track every rupee in and out. Consistent daily records make tax filing, royalty reconciliation, and distributor audits straightforward.
How to Use This Template
1. Fill in each transaction the day it happens, not at month end. 2. Categorise every entry using the Category codes below. 3. Keep receipts/screenshots for every expense above ₹500. 4. Reconcile with your bank statement at the end of each week. 5. Share this file with your CA at quarter end for GST / advance tax.
Category Codes
Income
STRM , Streaming royalties (Spotify, Apple Music, JioSaavn, etc.) PERF , Live performance / gig fee SYNC , Sync licence fee (TV, film, ad, content creator) MECH , Mechanical royalties (IPRS distribution) PPLR , PPL / neighbouring rights (radio, venue playout) MERCH, Merchandise sales SESS , Session musician / studio work fee TEACH, Teaching / workshop / masterclass fee GRANT, Grant or government scheme disbursement OTHER, Any other income (label advance, brand deal, etc.)
Expense
STUD , Studio hire / recording session PROD , Producer / co-writer fee MIX , Mix and master fee DIST , Distributor fee (DistroKid, TuneCore, CD Baby annual fee) PROMO, Promotion, PR, playlist pitching service GEAR , Equipment purchase or hire SOFT , Software / subscription (DAW, plugins, Canva, etc.) TRVL , Travel for gigs / sessions (train, flight, cab, fuel) ACCOM, Accommodation for out-of-town gigs MKTG , Social media ads, photography, video production LEGAL, Contracts, IP registration, lawyer fees GOVT , GST filing fee, CA fee, government charges MISC , Miscellaneous (under ₹200, no receipt required)
Daily Log, [Month Year
Use one block per transaction. Duplicate as needed.
Weekly Reconciliation Checklist
- All transactions entered for the week
- Matches bank / UPI statement: Yes / No
- Receipts filed for all expenses above ₹500: Yes / No
MONTHLY SUMMARY (fill at month end)
Tax Notes for Indian Musicians
- If annual turnover exceeds ₹20 lakh (₹10 lakh in some states), GST registration is mandatory.
- TDS at 10% may be deducted by event organisers and brands on fees above ₹30,000. Always collect Form 16A.
- Check Form 26AS annually to reconcile TDS credits against your self-assessment.
- Professional musicians can file under ITR-3 (business income) or ITR-4 (presumptive, 50% of gross as taxable under Section 44ADA if turnover is under ₹50 lakh).
- Keep all receipts for 6 years, the IT department can raise scrutiny up to 6 assessment years.
Free to use · Part of the Indie Music India toolkit · Updated September 2026