Indians woke up today and while logging to paypal, there was update information screen asking for Mobile no and PAN card no (issued by income tax dept).
Few Indians had problems updating their PAN with paypal, while most others were successfully update their account information.
Important: If you dont have PAN, you can cannot enter somebody else PAN no in your paypal account (like your dad, family members) and your name on paypal should be exactly same on the PAN card, without which it will not be accepted by paypal.
More information on PAN can be found from paypal site
FAQ’s on PAN
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 download PAN application forms or to learn more, visit http://india.gov.in/outerwin.php?id=https://tin.tin.nsdl.com/pan/form49A.html
- 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.
It just costs about Rs. 70 and you can get it within 7-9 days. You will need a photo, date of birth proof, and address proof. More information can be found this page. PAN card can also be used as ID card.
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