Sponsored post on instagram

It comes under advertising income. There are two sections to deduct TDS on advertising one u/s 194J and second u/s 194C. 194J is applicable when you give an amount to professional to prepare advertisement for you and 194C is applicable only when you make a contract with a person to publish your advertisement.

It's depends upon your treatment of sponsors
mean if you treat or making money as a business or you involved in its as business then as income from business if not as business then it will be as income from profession

it seems to me that it depends on each sponsor individually