RBI/income tax officials do not have guts to bring back 300 lakh crores of black money that politicians, corrupt businessmen have stashed in various tax heavens. In fact they are signing tax treaties which will make bringing back the black money to india impossible, But they are preventing small freelancer to send few dollar abroad. There is very easy way to fix the issue of income tax/black money once and for all. 1. Let govt of India tax each transaction 2% (both internal and international) 1a. Every time you receive fund in paypal , or use paypal fund to buy something abroad , a 2% transaction tax will be given to RBI. 2. All currency printed from now on should have a 5 years expiry date , before that it has to be returned to bank and then 2% tax will be charged 3. All currency without any expiry date will be invalid after 2012 3a. All old currency need to be returned by 2012. 4. No income tax will be deducted other than this transaction tax. 5. Remove income tax department altogether. 5a. Neither anyone will have to file tax , nor wait for tax refund for eternity , neither people have to remain tensed for not paying proper taxes , nor bribe income tax officials etc This will solve all income tax hassles, all black money issues , so that poor freelancers can continue to work online and feed his family, on the other hand millionaires who are not paying any income tax , will be forced to pay income tax. If people of egypt,tunisia can bring change in government, why cannot indian freelancers protest peacefully in front of RBI offices , income tax offices in all metro cities of India and change the horrible income tax laws of India
Your demands make me laugh. India would cease to exist if your rules are to be implemented. I am with RBI for the current rules, shame on Paypal that they cant do a little to help us. Paypals greed in eating our dreams not RBI's.
Do you pay tax ? I do not see how tax payers who are already paying 20-50% of their income as direct /indirect tax , will be unhappy with 2% transaction tax.
Hello friends Every one knows tht paypal has limited service due to restriction of RBI rules and regulations..RBI harassing again and again Indian freelancers so we have to do something for this.... If anyone can make site which is suitable for payment transctions or if u have another option after 1 st march then let me know here..... We wnt Perfect solution forever so if u know another option then post here....