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PayPal income and taxation

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hremix

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If I were to open a PayPal in another country, do I have to pay tax for the proceeds coming into my paypal account?
 
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hremix said:
If I were to open a PayPal in another country, do I have to pay tax for the proceeds coming into my paypal account?
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It doesn't matter where you open account, until you are not transfering fund to your tax payee country you are safe. Now you can rotate fund here and there.

But once you transfer it to card/bank you are bind up with tax ( usually - no idea about your country ). Like paypal send fund ( mostly ) by local bank transfer to manipulate fx charge.

You can also save it by having bank account in another place and get money from ATM by card. But still it is suggested to show some lower tax level and pay so in future if you require to invest money in legal way can do that.
 
Hello,

If you asking regarding indian paypal.

Actually RBI limited paypal with their rules.

1. You can't use paypal main balance to pay someone.
2. You have to withdraw money to your bank account
3. Pan card must be added in paypal.
4. We can only use credit card to pay with paypal

By doing all this they are just forcing indian people to pay TAX
if we wont pay, income tax department can catch us easily

I personally hate this :D

Regards
Host DZire
 
@HostDezire I had read somewhere PP has nothing to do with PAN Card they just use it for Verification someone had asked the PP customer support regarding it. They had said as to verify the customer they use the Pan card else they don't have any other use for it maybe I am wrong but who knows
 
Well in account they say Pan card is necessary, Why not any other Identity card ?
Like Voter ID Card, Adhar card or other.

RBI always stopped company like paypal, payza or entropay by their rules.
Like entropay can't provide plastic card service in india, i think they don't allow any company.

If they allow, people will use plastic card directly, one one will know how much money he earned.
So he don't have to pay income tax

Regards
Host DZire
 
Agreed but as i said who knows tbh other identity cards like Aadhar card are way too shitty anybody can take an aadhar card registration license and can start a service last I heard a dog had a aadhar card named after himself

Pan Card is the only document in India which hasn't been way to manipulated.

Driving License can be faked easily. Pan Card hasn't been that much faked or wrongly printed as I know.

and if you simply go to the Pan cards website if you get a pan number you can search for the owners name without any problems verifying a user's identity So it can be used by Paypal just to verify a persons name
 
Raz3r said:
Agreed but as i said who knows tbh other identity cards like Aadhar card are way too shitty anybody can take an aadhar card registration license and can start a service last I heard a dog had a aadhar card named after himself

Pan Card is the only document in India which hasn't been way to manipulated.

Driving License can be faked easily. Pan Card hasn't been that much faked or wrongly printed as I know.

and if you simply go to the Pan cards website if you get a pan number you can search for the owners name without any problems verifying a user's identity So it can be used by Paypal just to verify a persons name
Click to expand...

I agree that they may using it for verification
then what about limitations like withdraw money in bank account only ?

This way they preventing us from hiding our income :P

If money came to your bank then you can't just hide from income tax department.

With services like Plastic card, it was easy to use our paypal money, payza money
Just swipe card and done.

But all this will cause big issue with income tax.
 
We all have to pay them. Unfortunately, it is how governments fund the economy and local municipalities. Just a part of life almost anywhere you go.
 
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