Counsel
Ask an expert!
Legal, accounting and compliance advice from qualified professionals.
75% of IT startups register themselves as Private Limited Company, hence based on data I would suggest you go ahead with the same. You can have a contract with Y and you can tell the customer about terms and condition. Since you are providing services so you have to register under New GST Act for Service Tax. You have to tie up with all major banks in...
W Network
caHi, I am a software engineer and work alone. I am planning to open up and website which will be used to collect payments from accommodation hotels for their bookings. Key: X is the Customer who wants to book a room in Hotel Y. Y is the Hotel Y who gives rooms on rent for Customer X. Z is myself/my website which would be used to make payment. I would be the online aggregator who takes a commission from Hotel Y for every booking. Basically, the Customer X goes to Hotel Y's website and is redirected to my Website Z for payments.
The Hotel Y gets the payment from Customer X through my Website Z. Payment gateway account is linked to Hotel Y' account, but to the customer, my website Y is the payment collector. After the Customer X books the room, I will then collect the commission payments every 15 days through NEFT/Cheque from Hotel Y. I am willing to pay any taxes (if applicable). Now I (Mr. Z) would need to have a Contract with The Hotel Y. Also, I need to tell the Customer X about the terms and conditions, especially the part that the payments go to the Hotel Y directly and I am just a medium. Please note I am just a normal person and not a company. Can I have such contracts with the Hotel Y? Can I tell the Customer X about the terms and conditions? How can I be safe for legal liabilities from Hotel Y? How can I be safe for legal liabilities from Customer X? I believe in startupindia concept but I would like to start small as an individual. Please guide me with this.
-
W Network
ca75% of IT startups register themselves as Private Limited Company, hence based on data I would suggest you go ahead with the same. You can have a contract with Y and you can tell the customer about terms and condition. Since you are providing services so you have to register under New GST Act for Service Tax. You have to tie up with all major banks in India to facilitate online transaction processing to online merchants. There is no such license required from RBI. But, they are some regulations in terms of settlements of funds, which one needs to adhere to.
We at Wazzeer are well equipped to serve you seamlessly, 'Get your Wazzeer' and let's kick start your business.
about 3 years ago
View answer
Hi, I am a software engineer and work alone. I am planning to open up and website which will be used to collect payments from accommodation hotels for their bookings. Key: X is the Customer who wants to book a room in Hotel Y. Y is the Hotel Y who gives rooms on rent for Customer X. Z is myself/my website which would be used to make payment. I would be the online aggregator who takes a commission from Hotel Y for every booking. Basically, the Customer X goes to Hotel Y's website and is redirected to my Website Z for payments.
The Hotel Y gets the payment from Customer X through my Website Z. Payment gateway account is linked to Hotel Y' account, but to the customer, my website Y is the payment collector. After the Customer X books the room, I will then collect the commission payments every 15 days through NEFT/Cheque from Hotel Y. I am willing to pay any taxes (if applicable). Now I (Mr. Z) would need to have a Contract with The Hotel Y. Also, I need to tell the Customer X about the terms and conditions, especially the part that the payments go to the Hotel Y directly and I am just a medium. Please note I am just a normal person and not a company. Can I have such contracts with the Hotel Y? Can I tell the Customer X about the terms and conditions? How can I be safe for legal liabilities from Hotel Y? How can I be safe for legal liabilities from Customer X? I believe in startupindia concept but I would like to start small as an individual. Please guide me with this.
-
W Network
ca75% of IT startups register themselves as Private Limited Company, hence based on data I would suggest you go ahead with the same. You can have a contract with Y and you can tell the customer about terms and condition. Since you are providing services so you have to register under New GST Act for Service Tax. You have to tie up with all major banks in India to facilitate online transaction processing to online merchants. There is no such license required from RBI. But, they are some regulations in terms of settlements of funds, which one needs to adhere to.
We at Wazzeer are well equipped to serve you seamlessly, 'Get your Wazzeer' and let's kick start your business.
about 3 years ago
Looking to hire a professional from our handpicked community?
Explore our services, submit your request and let us do the rest for you.