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Withdraw funds in USD to India

5:18 am on Mar 7, 2009 (gmt 0)

Junior Member

10+ Year Member

joined:Dec 2, 2002
posts: 120
votes: 0

Hi Guys,

We are based in India providing services to US and UK customers.

We receive payments via PayPal.

PayPal transfers the money to our bank account in INR.

Here we are being told by our consultant that either we need to charge service tax from our customers or we need to get the payments in dollars to India so that we can show this as export income.

I have talked to PayPal and they say that since your PayPal account is setup as India origin, we can be transferred money to India in INR only and not in USD.

Can somebody suggest us that how can we get the money in USD to our India account so that we can save on tax here.

Please advise.

Thanks in advance.

[edited by: lorax at 11:17 pm (utc) on Mar. 9, 2009]
[edit reason] removed specifics [/edit]

10:45 pm on Mar 9, 2009 (gmt 0)

New User

5+ Year Member

joined:Aug 12, 2008
votes: 0

I dont think it matters whether the money comes in rupees or dollars as far as its coming in from another country the service you are providing should be considered an export.