Paypal Indian users - PAN Related Query!

Discussion in 'PayPal' started by Angelawilson, Jun 25, 2011.

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  1. #1
    Hey DP users,

    I currently work in an Indian Software firm and also earn thru online services(Blogging/copywriting etc)

    I m using paypal to withdraw funds. I dont have a credit card, so unable to link my credit card .

    I want to withdraw funds and its asking for my PAN number.

    Now that i give my pan number, aint it against Indian Govt (and also IT comapnies)policies that we should not be having more than one business?

    moreover the amt is very low.,,$70. If i give my pan number, should i pay tax for it?

    Please advice
     
    Angelawilson, Jun 25, 2011 IP
  2. Shafiq Kamal

    Shafiq Kamal Active Member

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    #2
    This is the new rule made by RBI that you have to add PAN card number in PayPal account. It won't be against law since it is the govt who have made this law. And finally it is some freelancing money. It is not your regular profession. If it was your regular profession then you would make $1000s.

    For $70 they won't cut tax. And adding PAN number doesn't mean you have to pay tax always. If your online earnings exceed certain amount only then you have to pay tax.
     
    Shafiq Kamal, Jun 25, 2011 IP
  3. nihangshah

    nihangshah Prominent Member

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    #3
    PAN is compulsory requirement for all withdrawals. So, get PAN and then withdraw.

    $70 is low amount and there won't be any issues related to tax.
     
    nihangshah, Jun 25, 2011 IP
  4. raoraj

    raoraj Well-Known Member

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    #4
    don't worry, add PAN no. in your AC.
    no TAX issue.
    only transaction over Rs.50,000 are tracked thru PAN No.
     
    raoraj, Jun 26, 2011 IP