hi evereyone...
First off all i would like to state that i am a student and iam not from commerce background so i dont know much about tax and stuff, I have a question on my pan card the income i show is the minimum non taxable income that is 99k or sumthing like that.....
Now i want to make a paypal account...for those who dont know paypal is an inertnational service that lets you send and recive money electonicaly...as i was saying i need a paypal account to recive payments from my customers who i sell some digital content ,RBI has made it mandatory in India to give a pan card no to make transections!
My question is if i make any sales and recive payments i will obviously exceed the non taxable limit...will it get recorded with my pan card no?
and if it is so will they themselves sent me a amount which i have to pay as income tax?
or i myself have to pay taxes on the income i make?
plz reply fast i need to make transection soon!!!
and many Thanks for the info that you may give!:)
CAclubindia
