registered company (In India)? Can you get screwed if you do trading online with a Paypal a/c without having a registered company? (In India)?
I'm just starting an e-store now of goods i want to sell. I've considered Paypal to take payments for me. Have opened a premiere a/c. I was wondering if paypal is monitored by tax agencies in India? 'cos its got all my PAN card details and all, and I just have a website.. haven't registered a company or anything?
Would I be penalized for trading without a registered company?
Also, about my payment.. I don't mind paying taxes actually, since all the money is gna go in bank a/c anyway, and i can't hide it by any means.. (read the RBI notification email by Paypal this morning) thingss are quite stringent.. also, any suggestions to make my paypal experience better in terms of handling my finances, since its not very user-friendly for indians.
I'm just starting an e-store now of goods i want to sell. I've considered Paypal to take payments for me. Have opened a premiere a/c. I was wondering if paypal is monitored by tax agencies in India? 'cos its got all my PAN card details and all, and I just have a website.. haven't registered a company or anything?
Would I be penalized for trading without a registered company?
Also, about my payment.. I don't mind paying taxes actually, since all the money is gna go in bank a/c anyway, and i can't hide it by any means.. (read the RBI notification email by Paypal this morning) thingss are quite stringent.. also, any suggestions to make my paypal experience better in terms of handling my finances, since its not very user-friendly for indians.