New Delhi, June 16 -- Social media content creation has become a full-fledged profession now and many creators are earning more than just cash payments from brands. Free products, sponsored trips, luxury stays, event invitations and barter collaborations have become common forms of compensation for influencers across platforms such as Instagram, YouTube and LinkedIn.

While such benefits may not involve a direct transfer of money, they can still have tax implications. If a brand is giving an influencer any product, service, trip, or other non-cash benefit as part of a collaboration, promotion or business activity, then the value of such a good or service will be taxable as per income tax law, according to three experts who spoke to Mint....