So here it is paypal has updated systems asking for the PAN number from Indians.It is good step though but when i tried to put the number in it,it refused to process it and shows error that please put the correct number well,i checked it many times it was correct.Hopefully paypal will fix it.
Here is more on what is 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 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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