Problem with PAN card Name itseems.Need Help guys

Guys recently PayPal was asking to enter PAN card number.....When am entered it showing it is not a valid one....

I think the Name in PP account and PAN card was different...

In my PP and Bank account the name is only my name with initial

but in PAN card it was my Initial followed by my name and my fathers name..


So is this he Problem or all are receiving the same error from PayPal...Please help me guys....URGENT!!

 

The name in paypal MUST match with that of your PAN card. Any discrepancies will cause errors.

 

But what if I run a business and I've a PayPal business account. It is proprietorship and I'm the owner so there is no need to issue new PAN with company name.
Now my PayPal is of my business name so will it cause an issue?

 

yes this is going to be a trouble, you need to get a PAN card for your business name also, contact your accountant for more info as he can suggest you some remedy.

 

But proprietorship firm doesn't need a PAN. Partnership firm will need a separate PAN using business name.

 

This is what the reply from Paypal regarding PAN, seen this posted in other thread.

and another one....

 

You can fax them your PAN CARD

 

Try applying for a name correction in the PAN .....or try correcting the name in Paypal account here :

https://www.paypal.com/in/cgi-bin/webscr?cmd=_sr-name-change&name_change_type=business_name


You can try submitting for minor correction....if that does not work try applying with supporting documents.


Note: this is for a Business account....I am not sure of Personal account because I dont have a personal account.

 

Have you faxed them your pan card and did they accepted the it and updated your account ?

 

I have fax them and got the email that they got the documents. Will update soon

 

I dont think Paypal is particularly bothered about your business name.... but they insist on the correct business contact name which cannot be changed later to another person's name. I have changed business name in Paypal account several times without being asked for any proof.

 

exactly paypal needs to understand... some needs... for proprietorship.. firm personal pan card is only applicable - as per indian tax laws... so paypal has to give the option before entering the pan card person has to describe that it is proprietorship or firm or pvt ltd.

but dont think... they do understand these things... till they are forced to understand... i think all of us we should email same thing to paypal.. about proprietorship - that it needs only personal pan card to be applied not a company name.

isn't it a good idea?

 

Guys i called PayPal about the name change for adding my PAN card number,They told me to send a fax yesterday so i did...now i called them again and they said me to close the present account and open a new account with the correct name in PAN card....

 

so this is usual paypal reply as they cannot alter their systems... but what about withdrawals... if withdrawals are working without PAN Card - then we should all withdraw first and then close the account and open new... as paypal cannot help in this case... because of their ill intelligence of indian tax system

 

Yes mate you can withdraw from PayPal account without entering a PAN card number in it....

 

I am facing same problem with my account. I have 2 accounts in Paypal , Ist account name is match with the name of PAN card but 2nd account name is little bit different. So I am not able to attach it with the 2nd account. Please let me know what should I do now.
thanks

 

you want to close the account and want to open a new one man...