Hi paypal users from india,now paypal has solved some problems they faced with the indian reserve bank and so they have put some additional guidelines and security measures for all indian paypal users to carry on with transactions.One is to submit a mobile number and the other is to provide a valid PAN (for income tax) number.Below are the details provided by paypal for requiring pan number.
What is a PAN number?
PAN or permanent account number refers to a 10-digit alphanumeric number issued in the form of a laminated card, by the Income Tax Department in India.
Where do you find your PAN number?
You can find the 10-digit number printed at the front of your card.
Why do you need a PAN number?
- PAN number is compulsory for all financial transactions as per Indian laws and regulations.
- PAN number provides you with a unique identification and makes it easier for PayPal to track your financial transactions.
- You need to have a PAN number (made mandatory by the Income Tax Department) in order to file for return of income as well as on all correspondence with any income tax authority in the country.
How do you get a PAN number?
- To apply for a PAN card all you need to do is submit the requisite application form number 49 A to the Indian Revenue authorities.
- To download PAN application forms or to learn more, visit http://india.gov.in/outerwin.php?id=https://tin.tin.nsdl.com/pan/form49A.html
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