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Indian Paypal Users please check!

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mystaku

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2011
23
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Indian Paypal Users please check! - PAN Card and Income Tax

Yeah so as Paypal has made purpose code and PAN card details mandatory to be set in your paypal account, do you think we need to bother about taxes ?

Yeah i know unless your annual income is more then 3 lacs ( near about that ) you don't have to pay taxes but then I cant help being paranoid CBI is gonna knock on my door and ... -_-

So has anyone till now paid taxes for the income they get as a webmaster ? If not, do you think you've a salary high enough and should be paying taxes ? Has anyone received any form of notice, warning etc for evading it?

*Sigh* I wish they stopped checking financial transactions of webmasters and took steps to recover the Black Money deposited on offshore banks instead :/


Please Discuss.
 
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28 comments
CBI wont come to your home for that. Mostly you will get letter from Tax department to show your source of funds and why didnt u paid tax
 
chemicalx said:
Hmm...It means i have to pay tax/ :facepalm:
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Nitish said:
I have added PAN number and i see no harm in adding it.
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PAN card details are being asked by paypal cuz of CBI's policies! In other words - your funds are being monitored! :/

vgnheart said:
CBI wont come to your home for that. Mostly you will get letter from Tax department to show your source of funds and why didnt u paid tax
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Yeah i guess so! So what "excuse" do i mention at that time ? :(
 
I have added pan card...... from thn i get tax deducted , when ever i get money :( , this is not at all fare destroy the damn RBI rules....
 
I use Software consulting as a Category when i withdraw ,
& tax is applicable only after you earn 1.90 lac
and you can save upto 3 lac by making some IDBI bonds , national saving certificates etc
 
first of all, change what u have written
Yeah i know unless your annual income is less then 3 lacs ( near about that ) you don't have to pay taxes
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it should be
Yeah i know unless your annual income is more then 3 lacs ( near about that ) you don't have to pay taxes
Click to expand...

& y would u worry unless u earn 3L per yr `
 
So has anyone till now paid taxes for the income they get as a webmaster ? If not, do you think you've a salary high enough and should be paying taxes ? Has anyone received any form of notice, warning etc for evading it? :|


vgnheart said:
mystaku, nothing special, tell them u earned money from affiliate programs, and was thinking that only employees need to pay tax. and now ready to pay tax + fine
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LOL What if they summon me to the court? <_<

humour said:
first of all, change what u have written


it should be


& y would u worry unless u earn 3L per yr `
Click to expand...

Sorry for the typo. Its 1.9 lacs btw. From the past few months I've been earning about 20000 a month which translates to 2.4 lacs a year soo..
 
Well I don't think this movement by Paypal to request the PAN card identification is unfair. Its absolutely a great move and it should not bother most of the Indians using Paypal.

I have a question to ask the thread starter. How much per year you earn and deposit money in Paypal ? Is it over Rs. 3 lacs ? If its not then there is no harm in adding the PAN identification in Paypal. Even if its more than Rs. 3 lacs then you should not hesitate to pay the taxes as its there for a reason.
 
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