India Artist Management Toolkit, Money Kit
This template tracks all business expenses for the month, everything spent to run and grow your music career. Use it separately from the Personal Expenses Template. The goal is to know exactly what it costs to operate as an artist every month.
How to Use This Template
1. Record every business expense as it is incurred. 2. Keep receipts for all amounts above ₹500. 3. At month end, total each category and compare against your budget. 4. Share with your CA quarterly for GST filing and advance tax calculation. 5. Use the annual summary at the end of the year for ITR deduction claims.
Business Expense Log, [Month Year
Entry
Expense Categories and Budget
Production and Recording
Distribution and Release
Marketing and Promotion
Touring and Live
Equipment and Technology
Professional Services
Administrative
Monthly Expense Summary
Tax Deductibility Notes (India)
All legitimate business expenses can be deducted from income when filing ITR-3 (business income). Key rules:
- You must be able to demonstrate the expense was wholly and exclusively for your music business.
- Keep receipts or bank records for all amounts above ₹500.
- Cash payments above ₹10,000 to a single vendor in a day are not deductible (Section 40A(3)).
- Capital expenditure (equipment costing above ~₹10,000 and lasting more than 1 year) is not fully deductible in the year of purchase, it is depreciated over time. Your CA will handle depreciation schedules.
- Meal expenses during gigs and tours are generally deductible; regular daily meals are not.
- Home studio expenses: if you use part of your home as a recording studio, you can claim a proportionate share of rent, electricity, and internet. Document this clearly.
Free to use · Part of the Indie Music India toolkit · Updated September 2026