Funny sentence ever! Ha ha ha....We are paying very less tax. We pay tax on income, Our income is 70% less than US and UK residence. Our per person income calculated $30/ Month 30*12=$360 per year. What tax amount would you like Pay?
They are asking for PAN numbers because the Indian government has asked them to. Paypal and other such methods were being used by large exporters to hide money or make payments. Smaller people like us who only have small amounts in Paypal are also affected by the new rules, but when you are trying to catch big fish, the small ones are also affected. P
If you're not breaking the rules, you have nothing to fear. I'm from the United States. Most of the complaints are about having taxes and fees deducted from transactions. Well, we all have to do that here. Also, our cost of living is nearly 3 times higher than that of India. Really, everything being mandated by law are policies that needed mandating after INDIA abused their own system.
I hate all these nonsense things. it will destroy small businesses in india.hoping for something good in next RBI guidelines.