Hi,
I am CA Navin Mishra, a Chartered Accountant with 12+ years of experience in taxation, finance, and regulatory compliance. Based on the project details, here’s how I can assist with your online platform's payment management structure:
1. Payment Structure: We will evaluate the right structure, such as opening an escrow account for holding payments securely until work completion, or using a standard bank account for streamlined transactions.
2. Taxation Flow: I will design a detailed process flow outlining TDS deductions, GST applicability at various stages, and ensure compliance with Indian tax regulations for individuals and GST-registered consultants.
3. Documentation: We'll implement a process for issuing the correct invoices, Form 16s, and receipts to both consultancy seekers and consultants, ensuring legal and tax compliance.
4. Automation: I'll guide on automating key steps in the payment cycle to minimize manual intervention, improving efficiency.
5. Legal Disclaimers: We will draft essential disclaimers to be added at each stage of the transaction for legal protection and transparency, in accordance with Indian law.
I will ensure the solution is simple, minimizes tax obligations, and complies with Indian laws for individual and GST-registered consultants.
Looking forward to collaborating with you.
Best regards,
CA Navin Mishra