PayPal Ask Us to Give PAN NUMBER

So now I have to pay tax for every transaction(receive), not just withdrawal? Someone, please clarify?

 

Guys,

This issue is not at all related to personal/premium/business accounts. This is the issue with the people having 3 word names. Yes! the only paypal logic to check the PAN validity is the 5th character to match with your initials.

Example Name : Rakesh Jai Singh

In PAN you fill the name as:

First Name : Rakesh
Middle Name : Jai
Last Name : Singh

This makes the 5th character of your PAN being "S" as it is the initial of you surname/lastname (Singh).

Now, in PayPal you fill your name as:

First Name : Rakesh
Last Name : Jai Singh

Now, PayPal logic checks your PAN and matches the 5th character to "J" which is the initial of your last name here (Jai Singh).

And, of course this does not match and PayPal says, it's not valid.

Possible Resolutions :

1. Change your name in PayPal as:

First Name : Rakesh Jai
Last Name : Singh

2. Contact PayPal explaining the same I explained you.


Points to note:

1. People whose PAN are getting accepted are having only 2 words name I wish I could.
2. I Strongly recommend you to wait for the resolution instead of altering your PAN as advised by some morons here, you are going to pay huge for that, may be a criminal case or fraud at least.

Thanks,
Vijay

 

oh my god.. Paypal is not accepting my PAN card number

 

Don't worry, you are not alone and it's not that critical at this moment. You can bypass the PAN entry page by clicking the PayPal logo at the top (as suggested by PP representative).

Thanks,
Vijay

 

Hi,I cant withdraw money to my credit card????? withdraw money to credit card option disappeared from my PP account !! do u have the same problem ???

 

Is it compulsory to submit our Pan ID

 

I added my pan successfully. It's better to work legally.

 

I haev given my pan number but paypal is not accepting I have asked them a reason and waiting for their email

 

Can someone clarify if I'll have to submit tax on just withdrawals or all the payments I receive? Thanks.

 

Yes, I got the same. But skipped and able to open the main page by clicking the PayPal logo. Also, transferred money successfully with out PAN.

 

Withdrawals man.. coz thats the thing ur actually getting to India

 

I think PAN number is cumpulsory for withdrawals above 50k only. Paypal wont make it cumpulsory to enter the PAN for withdrawals below that amount(I think..)

 

Hey, my problem is that my firstname/lastname is interchanged in the PAN card, and I can get it corrected in the IT department.

The problem is, they will not reissue a new PAN card with the 5th character changed to reflect this. Once they issue a PAN card, that is the end of the matter as far as the IT department is concerned.

So how the hell do I ever resolve this issue?

I can create a new PP account with first/last name interchanged, but then my bank accounts are in the correct name, so it will be a problem to get bank account info in Paypal in my changed name.

Situation is this:

Paypal info: First name: Harishankar Last name: Venkataraman
PAN Card: First name: Venkataraman Last name: Harishankar (will be corrected soon)

But then they will not change the PAN card number to reflect the corrected last name, so if PP are still using the 5th digit for checking, they will again encounter the same problem in the Paypal account.

 

Many are facing the exact same problem
Have no idea how to overcome it

 

I wrote to Paypal again explaining the issue and asking them not to use the PAN card itself for verification. If they are going to do business in India, they should verify with the official government database.

Luckily I have withdrawn all my money from Paypal by cheque, except $5 which was recredited to my account following a failed direct bank withdrawal in February.

I think ultimately we will all be using cheques for overseas transactions like olden days if the government issues even more regulations.

 

Friends who are facing problem in last name change your last name in PayPal I have successfully change my last name in PayPal and also added pan card

details here: http://forums.digitalpoint.com/showthread.php?t=1727722&page=6

 

If I change last name in Paypal, that would lead to other problems because my Paypal name is correct and used in all my bank accounts.

It's only reversed in the PAN card. I want to know if anybody here changed their PAN card information and got the PAN card approved by Paypal.

In any case, I've withdrawn my last dollar from Paypal and if they don't fix the issue, I'm going to close my PP account. If I need to receive money I will ask overseas people to either sign up with another service or simply send a cheque.

 

yes so give the pan number.... if that ask for... i

 

So you have to change your name on pan card and there is no problem if you adding pan card i have done almost 10 transaction without adding pan card in PayPal

 

try clearing the cookies. Also, are you using Pan number. Some people may still be using GIR number for filing returns and may be using it to register---though honestly, I would assume the income tax department has already issued PAN numbers to everyone (GIR is the Incometax register number, and its format is different). I think that is why Paypal mentions PAN number like this and gives a specimen starting with AAA