How to withdraw Royalties through Forevision Digital
Now that your songs are live and it is doing well! Moreover, the best thing is that it is generating royalties for you!
Congratulations on that! Now what? How are you supposed to withdraw the amount that you have earned? Well, there are a few things an artist must keep in mind before withdrawing the amount.
If the amount reaches the threshold of Rs. 1,000 or $50, artists or record labels may withdraw the money. Withdrawing money from an Indian artist’s or label’s bank account (such as SBI, HDFC, BOB, AXIS, ICICI, or any other Indian bank) is a simple process. PayPal also makes it simple for others to withdraw money in their currency.
Log in to your dashboard
Click on Add KYC.
You will be redirected to a form that needs to be filled out.
Please be careful while answering the first two questions and selecting the checkboxes, as these choices will affect how the rest of the form is displayed.
Before filling out the form, keep the following documents ready:
- Aadhaar card or any other government-issued ID
- PAN card
- GST certificate or GST number (if available)
- Cancelled cheque or bank passbook
Once the form is completed, click Submit.
Please wait for a few hours until your KYC is approved. Once approved, you can submit a withdrawal request at any time with just two clicks.
Please note that 10% of the amount will be deducted as TDS. This will be reflected in Form 26AS and may be refundable while filing your income tax return.
The disbursement will be processed within a few days after submitting the withdrawal request.
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