Hi, Its been more than a year since i last used paypal. Back then, the only "problem" seems to be the inability to pay for something through your paypal account and the need to specify why you had received the money (ie for what type of service) Now i am hoping to get back to doing some freelance writing and a few days ago one of my friends told that paypal as a mode of payment processing was finished for Indians. I have a credit card, i had verified my account using that credit card (i still have the cc so there are no problems on that front) but i am interested in knowing whether there are any other problems with paypal...i dont want to apply for a job, do it and then find that i am unable to get any money for it. Can any Indians (living in the country of course) confirm whether they have been able to withdraw money from paypal without any problems?
Nothing to panic if you are not trying to evade paying tax for the income you receive through PayPal Main points are you cannot pay using PayPal balance (meaning whatever money you receive you have to withdraw to Indian bank account)..... and secondly you cannot make domestic payments to another Indian individual or Indian merchant. To comply with RBI regulations you need and to be able to withdraw to bank you need : - A valid PAN card number - a valid bank account - IFSC number of the branch where the account is held (ask your branch for the number or search on Google/RBI website) - Your name in bank account, PayPal and PAN number must be exactly same.