First time consultant, doubts on Taxation
I would look into the possibility that the promise "that no taxes will be withheld" is all about your status as a 'consultant'.  They may be meaning you to be treated like a business they buy services from.  In Canada the distinction is very watery and I presume the same in India. If you agree to become a business, then you must look into how that business income will be taxed.
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First time consultant, doubts on Taxation

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I would look into the possibility that the promise "that no taxes will be withheld" is all about your status as a 'consultant'.  They may be meaning you to be treated like a business they buy services from.  In Canada the distinction is very watery and I presume the same in India. If you agree to become a business, then you must look into how that business income will be taxed.