Does Paypal India report earnings to income tax ?

Discussion in 'PayPal' started by MaX., Jul 26, 2011.

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  1. #1
    Am from India, and i got an sms from TD-I.Tax on 24/07/2011

    and today i got

    i havent submitted my PAN details anywhere but Paypal. Also i got sms on the numbers registered with my PAN and not the bank accounts. Does this mean paypal is reporting earnings to income tax?

    Or is it just an sms sent to everyone with PAN? Does Income Tax have my earnings details with them? i must have withdrawn around 2-2.5lakh last year

    Someone who has an info on this, please reply
     
    MaX., Jul 26, 2011 IP
  2. karthimx

    karthimx Prominent Member

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    #2
    Just be careful on your email, check its https:// and not http://

    you might be spammed.
     
    karthimx, Jul 27, 2011 IP
  3. supersenwins

    supersenwins Well-Known Member

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    #3
    No they DO NOT, without notifying us, according to their privacy policy. If at all Indian Govt wants to know all the earnings of paypal users, paypal will notify us before divulging the info
     
    supersenwins, Jul 27, 2011 IP
  4. deluxdon

    deluxdon Catch Me If You Can...!!!™ Staff

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    #4
    OP is talking about SMS not email.

    @OP - Maybe they are sending this to all pan card holders.

    DON.
     
    deluxdon, Jul 27, 2011 IP
  5. karthimx

    karthimx Prominent Member

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    #5
    I didn't get the sms as I'm Pan card holder from India.
     
    karthimx, Jul 27, 2011 IP
  6. nihangshah

    nihangshah Prominent Member

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    #6
    You must have registered on Indian Income Tax efiling website. They are sending those SMS's because the last date for efiling returns is 31st July.
     
    nihangshah, Jul 27, 2011 IP
  7. Clear Fork Land Services

    Clear Fork Land Services Member

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    #7
    I dont think it rports this info
     
    Clear Fork Land Services, Jul 27, 2011 IP
  8. MaX.

    MaX. Active Member

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    #8
    i just inquired with a chartered accountant and he told its just a general sms. false alarm
     
    MaX., Jul 27, 2011 IP
  9. rakesh000

    rakesh000 Peon

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    #9
    i am indian citizen from chennai

    i too received this sms as mentioned in the question

    just quoted below for reference purpose

    do i need to register on the site and fill my pan details

    please clarify me
     
    rakesh000, Jul 30, 2011 IP
  10. olddocks

    olddocks Notable Member

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    #10
    Paypal may not report it. But keep in mind that, if you have given your PAN with paypal, all payments are routed through RBI and it opens you up. Anybody can match up the payments data with your PAN.
     
    olddocks, Jul 30, 2011 IP
  11. khemraj

    khemraj Well-Known Member

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    #11
    These messages have been sent to all PAN Card holders, so just don't worry ;)
     
    khemraj, Jul 30, 2011 IP
  12. nihangshah

    nihangshah Prominent Member

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    #12
    You can register and view Form 26AS - it shows tax deducted from various sources like bank, salary, etc. You can also view any tax details you've paid to Central Government. It's free and no charges are to be paid.
     
    nihangshah, Jul 30, 2011 IP
  13. theonly1

    theonly1 Active Member

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    #13
    I just don't understand logic behind these questions.
    You can not hide your income from IT department in any case weather Bank report it or now.

    IT Department can in few seconds grab all info they need and even they can not access some info a simple notice from them solve the purpose.
    So be on better side and report all your income in your IT returns.
     
    theonly1, Jul 31, 2011 IP
  14. unna

    unna Well-Known Member

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    #14
    These types of SMS are coming to all. Even my 15 years old sister is getting the same. It is just like a promotional sms.
     
    unna, Jul 31, 2011 IP