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Saw there was no Paypal related main thread....so created one...where everything paypal can go...

 

now i already had account in paypal but never used it....just saw today it says confirm purpose code....what is it?? what do i choose?? even i ever use it ...the max i will use it is for some oline shopping here and there....what purpose code u guys gave??

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yup.. purpose code is for incoming payments only and for that as well you don't need to put in anything permanently.. you can put it in when you try to withdraw the money..

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Poora dara diye ho mohit ko.. are kuch nahin hota.. I have been using Paypal for 7-8 years now.. and I do get incoming funds on my Paypal time to time.. Koi tax wax ka kuch jhamela nahin hai.. Many times I have withdrawn money to my account.. Just did last month also.. :| and I have a premier account with Paypal..

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Poora dara diye ho mohit ko.. are kuch nahin hota.. I have been using Paypal for 7-8 years now.. and I do get incoming funds on my Paypal time to time.. Koi tax wax ka kuch jhamela nahin hai.. Many times I have withdrawn money to my account.. Just did last month also.. :| and I have a premier account with Paypal..

 

do you declare your paypal account in your annual taxes? the whole reason paypal has been so problematic/restrictive in india for the past year or so is because there was no regulation at all in how much and what kind of money was flowing in and out of the country through it. all these requirements that they've come up with (pan number, bank linking, no paypal funds can be stored or used for purchasing, removal of gift transfers and now this purpose code) are so that the government can monitor the money that is going through the paypal system.

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