Some serious questions about Paypal. Indian must see.

Discussion in 'PayPal' started by samlocalguy, Jan 28, 2008.

  1. #1
    HI friends,
    After long search on google. I want to ask some serious question about pp.

    One of my client is from India. He is exporting web services (mostly DP members do) to US, UK & Aus.

    He is taking payment in paypal from abroad customers. And Paypal to his personal account. Now he opened a current account on company name. And applied for I/E code.

    Now the question's are :

    1. Is it legal to take payment via paypal in India or from paypal to personal acc or Current A/c (If yes pls any solid proof ... like from the website of RBI.. or etc.)
    2. Is it FEMA offense?
    3. What are the legal ways to get payment in India from abroad.
    4. Where he should take payment in personal account or current a/c and why?
    5.What action can take RBI if proved wrong?

    I read all the threads on DP also on other forums. But no one has clear view on all it. I also talked lots of C.A. regard this. But still failed. If someone has experience of all it and he/she is taking payment from pp to personal or current a/c pls post here.


    Hope I will get the answer and it helps lots of Indians service providers... :)
     
    samlocalguy, Jan 28, 2008 IP