Paypal India Bank Withdrawal - Taxes Etc.

Discussion in 'PayPal' started by neerajdikshit, May 11, 2010.

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  1. #1
    So I've been planning to withdraw from Paypal into Indian bank but what I would like to know is what kind of taxes apply and if they do in the first place.

    I will be withdrawing around $800, so help please! :D

    Also, what are the risks of attaching bank account to Indian Paypal ?
     
    neerajdikshit, May 11, 2010 IP
  2. deluxdon

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

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    #2
    First of all there is no risk of attaching bank account to Indian Paypal so don't worry about that.

    You need to pay tax based on your annual income. Contact your CA for more info regarding same.

    DON.
     
    deluxdon, May 11, 2010 IP
  3. RightMan

    RightMan Notable Member

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    Paypal will not deduct the taxes directly. You will have to compute your tax liability based on your gross annual income if you are a salaried person!

    Regards,

    RightMan
     
    RightMan, May 11, 2010 IP