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PayPal Withdrawls are back For India

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I think PAN card will not be needed for persons who have Less Transactions.
I think it should be like Private bank System,which will allow normal working of paypal Upto a certain Level Of transaction of money per year i.e less then 1,20,000/- Rs per year.

Over this Limit , I think It will Impose some HEAVY LEVIES and Taxes with Some documents will be needed
 
**DEVILZ** said:
I think PAN card will not be needed for persons who have Less Transactions.
I think it should be like Private bank System,which will allow normal working of paypal Upto a certain Level Of transaction of money per year i.e less then 1,20,000/- Rs per year.

Over this Limit , I think It will Impose some HEAVY LEVIES and Taxes with Some documents will be needed
Click to expand...

Nah, It's not like that. As in Paypal mail everyone needs to enter IEC code for withdrawing funds to bank.

Read More on IEC Here
 
A mail sent by PP to one of the DP users regarding IEC code

Dear xxxx xxxxxxx,

Thank you for taking the time to contact us with your concerns. I am
happy to assist you further.

PayPal will be supplying you with this code. Please watch for the
updated email on 03/01/10.

We know situations like this can be difficult, so thanks for working
with us. If you have more questions, visit our Help Center by clicking
"Help" in the top right corner of any PayPal page.

Sincerely,
Alissa
PayPal Customer Solutions
PayPal, an eBay Company
Click to expand...

Looks like somewhat good news! :D
 
Since a couple of weeks there has been chaos among Paypal users as it paused withdrawal option from Paypal to Indian bank accounts which was one of the most loved and used service among Freelancers, bloggers and service providers to receive money from outside the country.

But earlier this week, in one of its official blog, Farhad Irani posted that they will be resuming bank withdrawal option to Indian users if they provide with ‘Export code’ while withdrawing funds, which many people misunderstood as ‘Import Export Code’ (One needs to apply to govt. of India for IEC). But a few hours ago, Farhad cleared that its not ‘IEC’ that one needs and its just ‘Purpose code’ that would solve your purpose!

https://www.thepaypalblog.com/2010/03/new-bank-withdrawal-instructions-for-our-customers-in-india/

:d :)
 
most of us will enter purpose code as

P0801
P0802
P0803

And the nice part about this is, we don't have to bare any additional Government taxes, while withdrawing.
 
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