Why is Paypal asking for Pan card ?

Discussion in 'PayPal' started by simplyjo, Mar 12, 2010.

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  1. #1
    Any idea WHY paypal is asking for pan card ? I have one and I updated already. But, in my 2nd account, I did not update pan card and I am still able to withdraw and use the account properly. So, why should we give our pan card ? Also, what is paypal's purpose behind it ? For taxes ? I guess once payment is in bank, it can be tracked in any case..so why the additional stuff ?
     
    simplyjo, Mar 12, 2010 IP
  2. rathin

    rathin Peon

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    #2
    RBI and paypal makeing you too pay tax that main thing behind in this
     
    rathin, Mar 12, 2010 IP
  3. linkstrade

    linkstrade Active Member

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    #3
    RBI want to recover tax from all IT professionals who are using paypal.

     
    linkstrade, Mar 12, 2010 IP
  4. Biggboss

    Biggboss Guest

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    #4
    Yes RBI wants now all details from paypal too for the tax information and how much we earn and from which source money is coming is it black or white .....
     
    Biggboss, Mar 12, 2010 IP
  5. unna

    unna Well-Known Member

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    #5
    Its all about taxes. Now we need to pay tax if our income is taxable.
     
    unna, Mar 12, 2010 IP
  6. theonly1

    theonly1 Active Member

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    #6
    All law bounding Citizens pay TAX anyway weather or not they use paypal.
    If you are hiding your paypal income in past then you are doing a crime.
     
    theonly1, Mar 13, 2010 IP
  7. simplyjo

    simplyjo Well-Known Member

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    #7
    Umm.. so all this if for tax ? but then, even our banks have our pan card number and all income from paypal goes to our bank.. so they already have all info ?

     
    simplyjo, Mar 14, 2010 IP
  8. bluesuccess

    bluesuccess Peon

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    #8
    Exactly our banks have all the info about it then why they are asking on paypal which is an online payment processor...?
     
    bluesuccess, Mar 15, 2010 IP