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Paypal cheque recieved ....

Discussion in 'PayPal' started by adsenser, Jan 4, 2007.

  1. charley

    charley Well-Known Member

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    #81
    Then converting PP > MoneyBookers and receiving it will be better, isnt it.
     
    charley, Jan 6, 2007 IP
  2. deluxdon

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

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    #82
    Now i think this thread is going on wrong direction.

    Please post here regarding Paypal Check.

    ;)
     
    deluxdon, Jan 6, 2007 IP
  3. pixel_perfect

    pixel_perfect Banned

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    #83
    @topic starter

    how about transfar funds to your Bro account and ask him send funds to you by western union (they deduct fee) or exchange company (hundi, you might know that term, free of cost) in one day?

    and i belive you will get a better exchange rete the paypal...?
     
    pixel_perfect, Jan 6, 2007 IP
  4. adsenser

    adsenser Peon

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    #84
    Yes , but i wan to play only legal games..;) Secondly from now onwards i ll be using my own account for alltransaction. Paypal's $5 fee dosn't bother me at all :D
     
    adsenser, Jan 6, 2007 IP
    neoms likes this.
  5. pixel_perfect

    pixel_perfect Banned

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    #85
    but tranfaring funds to bank account and get paid through exchange company is legal i belive?
     
    pixel_perfect, Jan 6, 2007 IP
  6. neoms

    neoms Peon

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    #86
    Yes...don't use Western Union....PayPal is the good choice and there services is EXCELLENT
     
    neoms, Jan 6, 2007 IP
  7. technoguy

    technoguy Notable Member

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    #87
    I am from surat (Gujarat) where are you from patel and nick?

    Let me know. I am hoping to receive check on monday.

    I have requested on 7th of december.
     
    technoguy, Jan 6, 2007 IP
  8. adsenser

    adsenser Peon

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    #88
    he was talking about HUNDI aswell , which is not legal ...;)
     
    adsenser, Jan 6, 2007 IP
  9. neoms

    neoms Peon

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    #89
    Take a copy of all your PayPal cheques (I used to do like that) from now onwards (if you haven't taken it yet), as this will be helpful in the future when your earning go above tax limits :)

    Best of luck
     
    neoms, Jan 6, 2007 IP
  10. adsenser

    adsenser Peon

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    #90
    Wuts the tax limit:confused:
     
    adsenser, Jan 6, 2007 IP
  11. neoms

    neoms Peon

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    #91
    Net income up to 1 lakh is exempted from tax. But you can increase the tax exemption limit up to 2 lakh by taking an insurance coverage or tax saving FD etc...

    PS: I prefer you to consult with a CA to make these points more clear. :)
     
    neoms, Jan 6, 2007 IP
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  12. pixel_perfect

    pixel_perfect Banned

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    #92
    yes, thats true...
     
    pixel_perfect, Jan 6, 2007 IP
  13. charley

    charley Well-Known Member

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    #93
    Excellent post, what I wanted to hear. :)
     
    charley, Jan 6, 2007 IP
  14. adsenser

    adsenser Peon

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    #94
    Thanks for that.

    But someone told me that the amount recieved from foriegn country is not taxable, as our country recieves foriegn exchange. I ll appreciate if someone clarifies that... ;)
     
    adsenser, Jan 6, 2007 IP
  15. neoms

    neoms Peon

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    #95
    No....I don't think so...
     
    neoms, Jan 6, 2007 IP
  16. technoguy

    technoguy Notable Member

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    #96
    If you are in india, software income is taxable, you have to pay 4% tax.

    Thanks
     
    technoguy, Jan 6, 2007 IP
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  17. neoms

    neoms Peon

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    #97
    Is it 4% or 10%?
     
    neoms, Jan 6, 2007 IP
  18. pixeldawn

    pixeldawn Well-Known Member

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    #98
    Huh, so whatever we earn from google adsense, should be taxable ?

    If its like $600 per month, for year it would be like 3.1 lakh rupees, so thats taxable ?

    I never thought of it :S

    p.s. : waiting for a notice from IT Department :D
     
    pixeldawn, Jan 6, 2007 IP
  19. neoms

    neoms Peon

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    #99
    The first 1 lakh is exempted from tax. Take a Tax Savings FD for the next 1 lakh (so no tax for that also). So you need to pay tax for only 1.1 lakh rupees. :D

    howsaat?
     
    neoms, Jan 6, 2007 IP
  20. technoguy

    technoguy Notable Member

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    #100
    I always prefer to invest in LIC, Mutual funds (tax savings), FD so I can save the tax. Software is taxable at 4%. Ok its little bit off topic than the thread.

    Thing is yet I have not received the check. Anyone who has requrested on 7th of Dec. have got the check?
     
    technoguy, Jan 6, 2007 IP