How to be a P2P merchant on Binance India (A-Z)

Hi everyone,

In search of steerage from skilled P2P merchants operating in India.

I'm pretty new to operating a P2P enterprise and want to understand the operational, banking, compliance, and tax aspect from A to Z earlier than scaling up.

A number of questions I have:

1. What business structure do most Indian P2P merchants use (sole proprietorship, LLP, Pvt Ltd, and so forth.) and what nature of business is usually declared to banks?
   
2. Which Indian banks have worked greatest for P2P operations and what practices assist keep healthy banking relationships?
   
3. What compliance measures must be carried out from day one? (KYC, transaction monitoring, document holding, and so forth.)
   
4. Is it advisable to move/rotate funds to different accounts immediately after receiving them from consumers, or is it better to take care of balances and transaction historical past in the main account?
   
5. How do you verify consumers and scale back fraud/danger? Do you gather Aadhaar/PAN, carry out liveliness checks, ask for bank statements, video verification, and so on.? If reviewing financial institution statements, what purple flags do you search for?
   
6. How do you handle accounting and ITR filings? What is usually reported as turnover/revenue, and what are some widespread mistakes to avoid?
   
7. Any advice relating to account freezes, cybercrime complaints, lien marks, or greatest practices to avoid getting caught up in disputes?

Would respect any insights from people who have been operating successfully in India for a while. Making an attempt to study the best means fairly than via pricey mistakes.

Thank you!