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  • Category: Suggestions

    Shouldn’t ISC also use easier ways to pay?

    Instead of making every member to fill the form, again and again, Shouldn't ISC also not rely on the direct money transfer through phone number which is linked to account?
    The kind of platform used by UPI Bhim, paytm, phone pay and google pay. Would it not make the task of everyone easier. Has ISC administrators have thought about this idea. What is your opinion about it?
  • #665857
    Invoices are required for tax purposes. It is for keeping records. ISC also deducts TDS for some members, when their earnings cross a certain amount.

  • #665861
    Hi , I too wanted a clarity on this.

    In a typical tax environment for auditing purpose, the member shall be filling across the form one time, signing it, providing the beneficiary account details over the form supported by cancelled cheque/RTGS mandate attested by Bank and in case of tax bracket, need to submit the GST certificate.

    The body/ISC shall run the cash credit eligibility dump report on monthly basis and release the fund directly into the beneficiary account via RTGS/NEFT/IMPS if not the wallet or other platforms. And they may ask members to submit the requisition against cash credit via on-line form which is simple and user friendly if the cash credit release is getting audited.

    Pls correct me, if I missed something here.

    "Whatever may be the situation of the forest,
    a Lion would never eat Grass!"

  • #665869
    Whatever may be the mode of payment one should raise an invoice for each payment. Once we submit our invoice it will be same for them whether transfer is done to bank account or through Paytm. As far as I know ISC also should maintain audited records for which proper accounting procedures are to be followed. Submitting an invoice on online is not a time taking process and after that ISC will do the needful. I am not finding any problems in this process. You can operate your bank account online.
    always confident

  • #665871
    There are many ways in which payments are made and ISC is following one of them which is quite sturdy from the point of view of taxes or keeping a tab on payments or releasing the payment to the bank directly. Now changing the payment system to another system depends on many factors like ease of payment and less clerical work. If it is so, ISC can definitely look for those alternatives. It is only a matter of convenience and introducing new technology in our systems.
    Knowledge is power.

  • #665903
    I was on various sites where they pay through Paypal. I find it the easiest way to transfer money. But it's okay to raise an invoice and get paid.

    " The two most important days in your life are the day when you are born and the day you find out why? "
    – Mark Twain

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