Legislative reforms surrounding Influencer Marketing are gradually evolving in India. From Today, Social Media Influencers will have to deduct TDS @10% on freebies they receive from businesses for promotion, under Section 194R in the Income-tax Act, 1961.
The Indian influencer marketing industry is valued at Rs. 900 crore and is expected to grow at a CAGR of 25 per cent to reach Rs 2,200 crore by 2025. The social media Influencer marketing business is a rapidly evolving area. Influencers are known to make and break trends on social media platforms. Many companies have tapped into the potential of social media influencers to market their products and services in a much cheaper and faster way.
Now it is crucial for Influencers to understand the complex legal framework surrounding influencer marketing to prevent themselves from breaching the relevant laws and regulatory codes.
It is very important for the Influencers to safeguard their legal rights before signing Influencer Marketing Agreement.
Lawfluencers can be contacted at firstname.lastname@example.org
Disclaimer: The information provided here is for educational purposes only and does not constitute legal advice or legal opinion. This information should not be relied upon to make any legal decisions and is not intended as an alternative to legal counsel. Legal advice should be sought according to your specific circumstances.