How to draw mylot earnings?
By buchi_bulla
@Buchi_bulla (8298)
India
June 30, 2007 6:05am CST
I stay in India. My Mylot earnings has reached $10. I know I have to take pay pal membership. What my doubt is, whether it will create any tax or foreign exchange problem for me? Can I buy any ebay product for that money? Will ebay deliver that to my house? Whether paypal or ebay will charge extra for such service? Please guide me.
4 responses
@touchnshine (2821)
• India
30 Jun 07
Dear Buchi_bulla
I request you to check the discussion started by me -- http://www.mylot.com/w/discussions/993013.aspx
It's about paypal and withdrawing money through mylot .. Just make sure you go through each and every post and you will find the answer to many of your questions.. If you still have any doubts you can contact me further and I will be happy to assist you further :)
1 person likes this
@Buchi_bulla (8298)
• India
3 Jul 07
Dear Touchnshine. I went through all the discussions. Since I have only $10.56 in my account, I think I can go in for ebay shopping only. For that please guide me. I know you are answering to so many questions in your discussion with patience. It is your greatness. Here I am also troubling you. Sorry.
For the little amount I earned, can I buy from ebay? Is there any minimum amount to be maintained with www.xoom.com? Or can I order for full amount?
If I have to register with paypal only for this small amount, then should I maintain minimum amount with paypal?
If the shipping charges are 00 in ebay, then what about paypal? Should I pay anything for the transaction that paypal is doing on behalf me? How about courier charges?
On the whole, please guide me, whether I can buy with this small amount from paypal or xoom.com with ebay? what is the procedure for that? I think I am clear in my doubt explanation. Thank you so much.
@Buchi_bulla (8298)
• India
13 Jul 07
What a beautiful explanation! Writer Madam, again and again you prove it. I think you can be a lecturer too. Students will be your fans including me and will pass out in flying colours. No praising please, I am telling it from my heart.
Well I too thought of buying from ebay only. I think you too have some products. I will look into it. Thanks a lot lot once again.
@touchnshine (2821)
• India
12 Jul 07
Hi again
I missed one thing -- If the shipping charges are 00 in ebay, then what about paypal? -- I didn't understood it well .. You should check out for the item which will exactly means the amount which you have in your paypal -- including shipping charges.
Should I pay anything for the transaction that paypal is doing on behalf me -- No you don't have to pay paypal anything for this.
should I maintain minimum amount with paypal? -- No need to maintain any kind of minimum amount in your paypal account.
Did I missed out something ?? - If yes then you can contact me further for that .
1 person likes this
@samson1967 (7414)
• India
30 Jun 07
Congerats for reaching minimum payout. Opening Pay pal account is not taxable and will not fall under foreign exchange act. Yes you can buy E-bay item from your mylot earnings that has been credited to your pay pal A/c. Ebay stores will deliver the ordered things to your door step. Neither Paypal nor Ebay will not charge you for buying items online. Only Ebay stores will charges you the shipping charges(courier).
1 person likes this
@Buchi_bulla (8298)
• India
30 Jun 07
no problem. It happens. Thanks for the advise. I will see to it.
@kroeger579 (227)
• Philippines
30 Jun 07
you can cash it out on your paypal and not to worry about taxes because there is none. if the amount was debited to your paypal account you can purchase it online may it be through ebay or other online stores. however, check to your local ebay site if they allow shipment to india. if it does you will have to pay the shipment fee depending on where did you purchased you order. if it is bought in india then you'll pay lesser shipment fee but if it is in another country it is more expensive. hope this help..
1 person likes this
