Social media intermediaries have become central to contemporary communication, public debate, and the dissemination of information in India, creating complex questions concerning freedom of expression, online safety, and platform accountability. This paper examines the legal and constitutional framework governing intermediary liability in India, with particular emphasis on the Information Technology Act, 2000 and the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021. It analyses the scope of safe-harbour protection under Section 79, due diligence obligations, content moderation, grievance redressal mechanisms, and governmental powers relating to blocking and regulation of online content. The study further evaluates the constitutional relationship between freedom of speech under Article 19(1)(a), reasonable restrictions under Article 19(2), and privacy and personal liberty under Article 21. Important judicial decisions, including Shreya Singhal v. Union of India, Anuradha Bhasin v. Union of India, and K.S. Puttaswamy v. Union of India, are considered to understand evolving judicial approaches. The paper also discusses challenges involving misinformation, hate speech, algorithmic accountability, transparency, and global platform governance. It concludes that India requires a balanced regulatory framework that protects legitimate expression while ensuring effective accountability, procedural fairness, user safety, transparency, and meaningful institutional oversight.