Am not getting it, Do you mean Webmasters earning off PPC/PPV ad revenues ... Since Programmers are the Service Providers ....So i don't really know ...what you are saying ...maybe ur concentrating on Webmasters .... Abhishek
Yes am pretty much sure ... Let's go back to the 80's ...on the 31st August of the year 1989 on cold winter morning.. my mom gave birth to a kiddo ... And thats me ... so How many year old does it make me to be Hehe ... Believe me this is not the first time I am getting to hear this ... Many of my clients too thought this ... but then in the end it's the quality of the work that they are concerned about and I am happy, my quality has never degraded! Hehe, that's because the man impresses me a lot. I have read many blogs abusing him, some say M$ sucks, others say Bill Gates must be strangled to death and along the lines, but do you think the man himself really cares .... He is rich, he is famous, he is respected, knowledgable and what not! His company made the software that runs more than half of the PCs worldwide! So .. just found his pic and put it up on my avatar ..lol Abhishek
Saying this on behalf of a friend who lives in India. She's not a DP member.... what she basically wishes to ask is that She's not an employed professional and does not own any company. So currently she is not tax liable or so she says. She runs adsense and does a jobs on the netwhich do not earn her much money .Does she need an IEC code. Ifshe needs it for paypal trans does she need it for adsense too ???
Paypal is a smoky situtation. Paypal cheques are issued in INR for which you **should not** need an IEC, however when the sources of such cheques will be asked for, you will have to show your Paypal account transactions which are in USD. I have basically stopped using Paypal for such a double story thing, 2checkout is much more transparent, since they wire the money. If the amount brought is small IMO, you can just normally pay your taxes if you fall in the tax payble slab. If you do not fall under the minium tax slab IMO...hey enjoy !
Exactly thats what happens with Google Adsense, One quick question .. "Advertising" , this term is included in services right ? So then Google Adsense Cheques in INR can come in the same class right ? And then it'd be necessary to get yourselves IEC! I myselves prefer scriptlance, since I have an IEC and scriptlance wires the money it gets much more safer! ICICI 'has' questioned me on the source of funds, i received like 500$ from SL 3 times and 650$ once from RAC in the same month, they called up at my place and said they were investigating some funds fraud blah blah and wanted to know the source of funds! The IEC/Invoice Print outs did prove handy that time! Abhishek
Yes Scriptlance Offers Fund transfer to PayPal, PayPal/Egold and Bank Wire and they have a hefty fee for Bank wire that is 55$ But then We have all the invoice and stuff ready with us and the money is directly coming to our bank account! The Sound of this itself is very nice! lol! And as Hexa said, So i'd go with Wire transfer anyday! Abhishek
If ICICI bank investigated this and called you personally, then the appropriate definition for them is POS. (piece of shit), remittances under $2500 are not asked for the source of funds. >=$2500, the bank will send you the form to fill up regarding the address and name of remitter and the reason. No personal phone calls need to be entertained whatsoever. If they asked for the proof and you had to show the IEC and Invoices, just call them up and say..they are sissies in foreign banking as yet. If you are looking for a good banker to deal with foreign transactions, here are my best banks on service and priority basis, 1. Allahabad Bank ( Does a nice mouth shut work and gives an awesome exchange). 2. State Bank of India (Still the gurus) 3. Bank of India ( Rocks!) If you be a regular customer with these banks and keep in touch with their FOREX department, be assured they are gonna make the best deal for you when your money comes in. Last month, Allahabad Bank delayed my transaction deliberately 1hr 20 mins for the best exchange rate, and it was 20 paise a dollar more, the amount wasnt noticeble, but the service was. Low transaction rates, free FIRC etc are also the other stuffs you get from them. I admit you wont get the sizzle of a private banking in these banks, but if you hold on to them, you will gain in long run.
Hmm Thanks for the advice bro, The call from the bank was unexpected too, My dad himself is in BoB and is a CAIIB! Even he said transactions under 100k are not supposed to be investigated! But they said they were not able to contact the source of fund! Also at that time, my account had opened in the same month and maybe that could've possibly been the reason! But since then I have received Payments well above 100k INR! But they've never questioned me ! Abhishek
Extremely good post -Abhishek- what with the indian economy booming spending and recieving money is a cause of concern for anyone your post will truley help thoughs who are not sure on the right way to play safe. Again great post!
Yep ur right mate! But the original credits for the thread goto the member hexadesigns! Only remember two things ... Get an IEC Don't receive money via WU/Xoom/Cash2India for all your commercial services offered! Abhishek
Thanx for the info Abhishek. Copy pasted or otherwise, I am sure this would help a lot of people. I think some people has been bit harsh on Ahishek. He ddint plead for reps or anything. Take it easy guys.. and Abhishek, keep up your great work.
Nice set of information from Abhishek and I agree with him 100%. If in serious business you must get registered with STPI and let me tell you the benefits are huge. Just wish that paypal increases its Indian withdrawal cap which is presently just $2500 per month. Even if this is done this will be a lot of benefit. Anybody has any idea as to what happens if you donot receive some FIRCs from the bank since (as per the bank) they get lost in Postal Transit.