Running a YouTube Channel gives a good income sources
Perhaps if the total income is less than 1 crore, then the taxpayer has to follow the normal tax procedure. It is necessary to keep financial records, but tax audit is not required. But if the income is more than 1 crore, then it is mandatory to get a tax audit done under section 44AB. In such a case, the channel owner has to get the audit done through a chartered accountant. Net taxable income is calculated after deducting business expenses and depreciation.
GST is also applicable. 18% GST (9% CGST and 9% SGST) is applicable on advertising income from YouTube. For this, YouTube creators are required to get GST registration.