After more than a month of problems, Indian users will finally be able to withdraw money to their banks from PayPal India.
The new withdrawals will require users to use a Purpose Code while withdrawing money to their bank accounts. If you received payments for your website or blog, you need to use Freelance Journalism as your purpose code.
Please choose your purpose code accordingly, so that you do not get into any trouble later. Also, as said earlier, there will be a limit on the amount you can withdraw before which you will require to produce receipts or invoices and your PAN card. Though PayPal has not explicitly said how much the upper limit is before you would require additional documents, however, this would more likely than not be Rs 50,000, as bank deposits above this require users to produce their PAN cards.
Phew, that was a tough month for publishers, but all’s well that ends well, go ahead and get your money out right away.