Anyone else got the email alert after withdrawal (Indian Paypal Users) ??

Export Code, Yeah..

Which means you should register your business
then pay custom duty
then pay tax

No PayPal for small/home business then?

 

Getting Export code will be a headache. We can provide PAN number if they need but Export code come on. What is Govt doing?

 

we should wait till 1st March for more news..

 

wait for 2 days then we will know..

 

May be small businesses can use check as the withdrawal method. Not sure though.

I think we need to wait for more clarification we get mainly on 3rd March

 

Guys, don't panic, lets all wait for two more days, hope things go well!!

 

i think its better to go with Xoom.what i mean is if your client is in US then ask him to pay through xoom directly instead of paypal.according to new xoom rules we cannot transfer money to our own bank accounts in india .also through xoom your client can pay via CC or paypal to our bank accounts directly.the charges for US people to send money to india is also less when compared to paypal.i am going to do same thing.give me some green guys if you like my tip

 

Me too, my client in the US has agreed to pay via Xoom (I am a freelance writer). But my question is: Will RBI impose some strict guidelines for Xoom too? Waiting for an answer.

 

howmuch is fee if my client want to send me $50.

 

Got mail too, and as I guessed it right, there will be 'tax' on every withdrawal, not a good news for freelancers like me.

 

Yes, I think small / home business owners needs to say good bye to paypal. Its a crime if we are small/ home business owners. Isn't it?

 

How much would be the tax?

 

For personal paypal users.. I think paypal will collect PAN and they will limit transactions/month or year. For business accounts, they will collect IEC code with higher limit.

 

I think the RBI gona apply Tax on withdrawal as same as VAT

 

I think it's about $3 or something, I am also thinking about keeping my second option open!

 

Hi Guys... I have an Axis bank Visa Debit card........ Can I withdraw the funds to that card?

 

Don't get demoralized as an IEC is easy to get and it takes about a week.

 

Do you already have it added to your Paypal account?

If you have, then you can withdraw.
If not, then you can try adding it first (linking your CC with your Paypal account)
I don't think it'll get through, because some ppl here have reported that AXIS Bank debit cards are rejected.

Currently, only ShopSmart card from Standard Chartered Bank seems to be only working Debit Card with Paypal.

 

That's one of the very few good news that I heard in last couple of months.
I wish they refund all the transaction fees they took while reversing the 'Personal' payments.

 

They took no FEES !!