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PayPal India asks for PAN details

According to latest update we got on comments and confirmed the same, PayPal India asked Indian users to enter PAN or Permanent Account Number details as soon as they Login and it is compulsory.

Paypal PAN

Paypal PAN

According to the FAQ here :

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.
PayPal FAQ Details

PayPal FAQ Details

This is an excellent step by which RBI and Income tax both can get control over the illegal money that might be flowing inside India and a good option for Paypal customers so that can be clear on their Income Tax Return. Recently Paypal introduced Purpose Code which was required by the RBI to track transfer of funds from Paypal to Indian Bank Accounts. You can learn How to get a PAN Number.


About Ashish Mohta

An analyst who writes about undiscovered,unknown and untalked topics for people who want to to know more about India and Indians.

9 comments

  1. Hi,

    When I tried to access my paypal account in India I was asked for PAN details. However Paypal did not accept my pan number and gave the message as below :

    Some required information is missing or incomplete. Please correct your entries and try again.

    * PAN Number: You have entered an invalid or incorrect PAN number. Please enter a 10-digit alphanumeric number without spaces, special characters and dashes.

    I have tried entering the details 3-4 times with PAN card before me always but it has some issue.

    Any idea what should be done ?

    Ravi.

  2. Hi is it compulsory to add this number ? How can I skip the screen which asks me for PAN number.

    I dont have it now and I want to withdraw money from paypal.

    Paypal should have given link to skip.

  3. It would best to contact PayPal to find the PAN issues with your account and yes it is compulsory dont skip it.

  4. Check your PAN details here:

    If you don’t have records, then that means that your details are incorrect. Try to put on First Name: (your surname), Surname: (your first name), if you get your details, then that means that you have to correct your details in the database.

    I have the same case, maybe that’s why Paypal wont accept my PAN.

  5. hi

    Yes, our pan card numbers were not acceptable in paypal. the reason is the account holder name.

    Previously paypal used different naming style for bank transfers. But i noticed paypal directly checking your account holder name towards your pancard details like “LastName FirstName”.

    so check your pancard there is a printed name of the card holder. so this should be the same name for your paypal account. Don’t confuse about the existing name in your paypal account. if you go to see the Account overview then they will show your name at the top the summary.

    what you need to do is “create a name change request in paypal”. and don’t forget to mention about pancard issue. if you mention this issue then they will change your name with a day.

    in the name change request just write the existing name from paypal, and in the new name part you just write your name from the pan-card.

    once they changed your paypal account holder name then your pancard will be accepted in paypal.

    i have done this and now my account is working fine. Best of luck.

    Regards
    Gavaskar

  6. Thanks for such great info. Definitely,it will help a lot.I have a question and confusion though with the purpose code.I am a freelance graphic designer and 3d animator,most of my freelance work is related to Multimedia.. WHAT PURPOSE CODE SHOULD I USE ?

    Thanks.

  7. Hi,

    I received some $$ from US, now I want to either send that money to Purchase some goods online.

    Or if I transfer than money to my ICIC/HDFC bank which option I should select from the DropList.

    As I does not come under Freelancer/Etc which option is safer to select.

    As I dont want to get into some trouble by IT DEPT.

    Please help

  8. Hi Sam, Unless you tell for which reason you had recieved the cash it will be difficult to suggest you a category.

  9. Hi is there any way to change the pan card number entered in paypal? When I opened an account I entered my friends pan number, now after I have got my own pan card, how can i enter it? Thanks for any help.

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