Any idea from when pancards would be mandatory to access Paypal accounts ? Right now it is just an option - You may/ or may not add pan card, you can still access the account .. I heard soon it would be mandatory and even though I added my pancard to my PP account, my bf's pancard is still under process... so wondering for how long he can use paypal without worrying ?
Even I had tried to find answer of this. But till now people are talking that its just optional. In my opinion paypal will make it necessary. I don't know when but still there is a possibility for this to happen soon. RBI is getting more strict with payments coming from foreign so paypal have to follow their rules if RBI makes it mandatory.
No only Indian paypal user who wants to withdraw funds in a Indian bank account have to fill out their PAN info. I don't know if Paypal asks for SS number from US customers.
No, I'm using an indian paypal account and withdraw money through Payoneer USA account. Because it's a faster method than local bank account. Fees also minimum as 1%. So PAN is not a problem for me. Thanks Blog.
Simple. You can get a payoneer card through a partner like Odesk, 2checkout, plimus, fastspring etc. Then get at least 3 payments from the vendors. After that apply for USA virtual account from . They will ask questions to complete the process. For $20/year charge they will supply it. This is a fast method to get cash from paypal to hand. I know there are many people are using it. Thanks Blog.
Thanks for email id Also I heard because of PAYPAL issues PAYONEER is giving US virtual account to many asians
Yeah in these days they give virtual USA account for many members. Because they have 1% commission for every paypal withdraw Thanks Blog.
That is a very hard question. We cannot say exactly as paypal did not officially announced that pan is important for indian people. But later on, it may be mandatory soon. No one knows, when could pan card is mandatory. But i think there is possible for paypal to make pan card update compulsary. Wait for few days, and lets see how the paypal goes on in india.
hi every one PayPal is the faster, safer way to send money, make an online payment, receive money or set up a merchant account. and PAN Card in India is mandatory as per the income tax department of India. With effect from April 1, 2006, SEBI has also made PAN Card compulsory for all investors wanting to invest in India.
i wanted to have a personal paypal indian account but its asking for pan card and i donot have it what can i do
Apply for a PAN and you will get it in couple of weeks. All you need is id proof, address, proof, photos, about Rs100 and PAN application form. See details here :https://tin.tin.nsdl.com/pan/index.html And NO you dont have to file your tax returns just because you have a PAN...you have to file tax returns only if your income is above the exemption limit applicable to you. If you want to reduce your tax liability consult a chartered accountant or a investment adviser...they will guide how to do it and will also help you file the tax returns and with other financial matters.