PayPal Ask Us to Give PAN NUMBER

I don't have any idea but I have also asked CA and he said For it Tax is straight 12% ?

 

Yes I have typed my pan in caps only

 

For 25lacs a year the real tax rate is 30% consuly a CA mate its a big amount

 

Just for reference.

 

this is last year slabs new slabs are

New tax slabs:

Slabs (Rs) Rate(%)
0 – 160000 = 0
160001 – 500000 = 10
500001 – 800000 = 20
800001 and above = 30

 

The above modifications will be applicable for the year 2010-11.(April 2010 Onwards)

The one I mentioned earlier are for April 2009 to March 2010.

Edit : May refer http://www.surfindia.com/finance/income-tax/income-tax-rates.html

 

Thats right but i think we should consider from April 2010 coz from now only paypal will report our transcations to Our PAN ..

 

I do not have a PAN card.Will i be asked to submit the same?

 

All Indians will be asked for a PAN card..

 

Oh.I think I'll have to get it done soon.Any hint on how i can get it?Can i get it online??

 

Read this http://india.gov.in/howdo/otherservice_details.php?service=15 you can also do this easily offline catch a CA or just go to income tax office in your city

 

You can find all the required info Here.
Better get it done with an agent, will be much faster process then!

 

How many days will it take for me to get my PAN number?I'm sorry if you find it silly.But i'm a student and i have very less idea about it.

 

If you do it through an agent you could get it in 14 days

 

Took me 8 days with an agent, paid him around 200/- Rs but actual fee is around 25 Rs. Im not sure, and it takes really long as well.

 

Thanks a lot for the info.I'll speak to my dad about it.

 

Same question here.

I dint get this line of yours bro, Rs. 10lac+ as single payment .

What did you mean by that ?

 

Today PayPal is asking for PAN ... Tomorrow may be passport and then something else

BTW i think PayPal shall only ask for PAN if someone is withdrawing money over 50,000 INR .. as the same rule for deposit over 50K apply

People must enter at the time of withdrawal over 50K from PayPal

This is a smart idea to be implemented ... and make proper use of PAN

 

But i have got 2 paypal accounts, and paypal asks PAN number for both accounts?

what should i do now (?

 

wats the logic behind this ??