I can not believe this...Please clarify..

DianneN

@DianneN (247186)

• United States

7 Jan 20

@arunima25 I’m positive it isn’t affecting his PayPal account.

1 person likes this

@arunima25 (87772)

• Bangalore, India

7 Jan 20

@DianneN No it is not. But PayPal deducting such huge amount is shocking. It's a miscalculation or some confusion.

1 person likes this

@arunima25 (87772)

• Bangalore, India

7 Jan 20

The tension building up between two nations might further hamper the global economy. But regarding this post, I think there is a big confusion or misinformation that needs to be clarified. I doubt if it is a glitch with his PayPal account.

2 people like this

Kokil agarwal

@amitkokiladitya (171927)

• Agra, India

7 Jan 20

GST has really affected a lot many businesses and they are still trying hard to recover from it.

3 people like this

@hereandthere (45645)

• Philippines

7 Jan 20

but the specific issue is, how much gets transferred to your bank from paypal if you received $5 from mylot? do you get $4? $3? $2 or just $1?

3 people like this

Kokil agarwal

@amitkokiladitya (171927)

• Agra, India

7 Jan 20

@hereandthere I get full $5 from mylot.

2 people like this

@hereandthere (45645)

• Philippines

7 Jan 20

@amitkokiladitya so are you saying although the money is automatically transferred from paypal to your bank, there is no deduction at all?

2 people like this

vanny

@vandana7 (100221)

• India

7 Jan 20

I am interested in knowing the details too. :) As to economy, from what I have learned folks in managerial and marketing positions are losing jobs as companies are trying to cut costs.. such folks are paid more, so more savings when they are axed. Cement companies in particular from my acquaintances some software companies too. International companies too. Freshers come at low cost...seniors would have received decent increments across a period which in these times are unsustainable. As to costs...last year I bought two regular pair of clothing for dad within 3000 from Raymonds. This year, I spent 2275 for just one pair. So yeah...that was surprising. Companies have increased mark up because sales are sluggish, sustainability of the supply chain depends upon that mark up.

2 people like this

vanny

@vandana7 (100221)

• India

7 Jan 20

@msdivkar I am not sure whether GST is applicable on Rickshaws.When it was introduced, I thought it would such everybody into the system like some Whirlpool. But I see so everything as business as usual... there are no bills issued to me by any shops. Only services sector is caught I guess. I don't know. PayPal has been sending the GST thingy.

2 people like this

msdivkar

@msdivkar (23359)

• India

7 Jan 20

You are very correct. Indian job market has always been difficult for freshers, it has become worse now and even seniors are in trouble due to closure down of so many firms. As about GST at the time of its introduction so many small suppliers like that of lays and similar consumer products moving with their rickshaws had to stop their business as they could not understand the complicity of GST.

3 people like this

@arunima25 (87772)

• Bangalore, India

7 Jan 20

@vandana7 I have not come across any deduction from PayPal other than their fees which has been there earlier too. GST is good in long run but will definitely be a bit of trouble in initial phase. We have to give it some time. And I think you should definitely ask for bills. That's your right.

1 person likes this

anil02

@anil02 (24688)

• India

7 Jan 20

What may be the reason, but it right that our economy is slow down. Consumption in rural area is not good one. One more reason behind it that with GST now it is not easy to do business in black marketing.

1 person likes this

anil02

@anil02 (24688)

• India

9 Jan 20

@arunima25 My lot earning is not in limit of GST. I am getting invoice of GST from Paypal every month. It is right it will take some years to get its full benefits, but peopels are not like to wait for it. Because control on black money real state sector is in too much pressure.

1 person likes this

@arunima25 (87772)

• Bangalore, India

7 Jan 20

But our Mylot earnings are not anyway connected to GST. So why blame it. Looks like some misinformation or glitch in his PayPal account which he should clarify. Also GST is good and is a corrective measure. It will have some hiccups in beginning but will be better in coming times for economy.

1 person likes this

@arunima25 (87772)

• Bangalore, India

9 Jan 20

@anil02 Even i got a few mails from PayPal but I have checked it so carefully. Maybe I am not making much and so no tax here. Everyone knows that it's good in long run but political propaganda and misguidance need no logic.

1 person likes this

@hereandthere (45645)

• Philippines

7 Jan 20

i've observed from indian mylotters that you can't keep money in your paypal accounts, that they get automatically transferred to your bank accounts. the reason i suggested that post to other indian mylotters is to clarify how much gets deducted when you earn $5 from mylot. are you left with $4? $3? also does it depend on what type of account you linked to your paypal account? ex. bank account, credit card, etc? does it depend if it's a personal account? business account?

3 people like this

Google Plus 3000+

@GooglePlus (3831)

•

23 Feb 20

@hereandthere let me attach my proof. And yes it was Jun and not July, Pardon me with that info which I passed in the previous comment. My account type is Personal Amount transferred was $5.12 and Amount credited to my bank account was Rupees 345 ( $1= 67 Rupees ) Please note I removed the transaction id.

1 person likes this

@arunima25 (87772)

• Bangalore, India

7 Jan 20

I can't say things about types of account. My PayPal is linked to my savings account. I get the full money from Mylot while from other sites a nominal fees is deducted. Around 20 cents or less from $5. This one comes as a shock to me.

1 person likes this

Alex Socorro

@Alexandoy (65308)

• Cainta, Philippines

7 Jan 20

What exactly is the purpose of the Suggestion? Can I ignore it?

1 person likes this

@hereandthere (45645)

• Philippines

7 Jan 20

yes. you can ignore suggested discussions. you can also delete them.

@hereandthere (45645)

• Philippines

7 Jan 20

@Alexandoy no, it is not, but some discussions, like those from mylot admin, need to be suggested to as many mylotters as possible as our way of helping everyone be informed

Alex Socorro

@Alexandoy (65308)

• Cainta, Philippines

7 Jan 20

@hereandthere thanks for the info. I thought it was mandatory to do the suggestion.

1 person likes this

snowy

@snowy22315 (180366)

• United States

7 Jan 20

The economy is pretty good here. That is the only reason that Trump has the support he has.

1 person likes this

@arunima25 (87772)

• Bangalore, India

7 Jan 20

Good for your country. Our is a developing country and so the economy gets effected by global affairs. But this discussion seems to be a far fetched miscalculation, misinformation and some confusion. Our tax system is not cruel and we have to have a certain earnings to be taxed. Seems a glitch with PayPal account.

allen0187

@allen0187 (58582)

• Philippines

7 Jan 20

My belief is that the global economy is on a tailspin. We are going through a economic down slide. We just don't want to admit it yet.

1 person likes this

allen0187

@allen0187 (58582)

• Philippines

13 Jan 20

@arunima25 hope it is clarified for you.

1 person likes this

@arunima25 (87772)

• Bangalore, India

19 Jan 20

@allen0187 I am clear. Xavier has to get it clarified.

1 person likes this

@arunima25 (87772)

• Bangalore, India

7 Jan 20

I agree. But we don't suffer any tax deduction in our earnings till we reach a threshold and in no way we pay such huge tax. There is some misinformation or glitch with PayPal account and he needs to clarify it.

2 people like this

msdivkar

@msdivkar (23359)

• India

7 Jan 20

The claims by the poster appears on higher side. The ultimate slab in GST is 28% which does not seem likely here. Most likely rate of tax here is 18% which is less than $1 but quite high. I always felt that GST rates are quite high and could be one of the reasons for slow down in india. Although world economy was slowing down Indian economy was on buoyant mode and has come down drastically after demonetisation and GST. The high rate of GST Could be one of the reason for that.

1 person likes this

msdivkar

@msdivkar (23359)

• India

7 Jan 20

@myklj999 GST tax rates slab are 0,5,12,18 and 28. Maximum rate of 28% is only on luxury items. Basically GST is a sales of Goods and services tax not an income tax so I fail to understand how it is applicable here.

1 person likes this

@arunima25 (87772)

• Bangalore, India

7 Jan 20

I have given a long reply to Vandana. I have put my points there. PayPal deducts a nominal fees and transfers the money in our bank account. In case of Mylot, I get full payment without deduction. But this is way too much... $ 3_4 out of 5. Might be a glitch in PayPal account. This is not related to GST at all and so no blaming GST for everything wrong.

1 person likes this

@arunima25 (87772)

• Bangalore, India

7 Jan 20

@myklj999 We are taxed only if we cross a certain earnings limit. And that is not applicable with online earnings as we don't make much here to be taxed. For Mylot, I get full money. For other sites, PayPal deducts a nominal fees like 10-15 cents out of $5. This discussion is shocking. Might be some misinformation or a glitch with PayPal. Calling PayPal and clarifying it will be good.

1 person likes this

Judy Story

@jstory07 (139503)

• Roseburg, Oregon

7 Jan 20

I will go and read that discussion right now. Maybe you should message her and ask her.

1 person likes this

@arunima25 (87772)

• Bangalore, India

7 Jan 20

I have responded to the discussion. I see what is the comment. We can interact there.

Pinay Ako

@AkoPinay (11542)

• Philippines

10 Jan 20

In the Philippines, our experiences are different from other fellow Filipinos because PayPal fees and fees of each bank here are not the same. Taxes is NOT an issue for us but only PayPal CONVERSION/FEES and BANK FEES. We have many options to withdraw from PayPal so my fellow Filipinos might experience different from mine because it all depends on what options we use and the amount we withdraw.

PayPal Philippines changed the minimum withdrawal last year. Withdrawal to Credit/Debit/Prepaid Card (Visa, Mastercard, etc) and Withdrawal to Bank account are different but I do not know the FEES since I earned nothing last year (LOL) and the last option I used was GCash which is INSTANT transfer and zero fee but CONVERSION is LOWER compare to 'money changers' rate. When I started using PayPal our minimum withdrawal was $10 for both options (card or bank) but FEES were different. During Bubblews time I used to withdraw PayPal funds to Card (Visa) and deducted with $5 fee every transfer. I didn't know that fee was around $1 (P50) only when we transfer PayPal funds to my bank account (Unionbank) and the processing time was quicker. Other banks had higher fees and longer processing time based on what I've read. Imagine that. Now I am thinking, maybe PayPal India or banks in India made changes too which caused this confusion to Indian users because some already experienced the effect of it and some haven't experienced it yet.

1 person likes this

@arunima25 (87772)

• Bangalore, India

10 Jan 20

It is not the case of changes. We are taxed only if earn quite handsome to come in tax slab. Yes we do get a deduction of PayPal fees. In India, we can not hold money in PayPal. It is automatically transferred to our bank account. For Mylot, I have never been deducted any fees and for other sites it is just a nominal fees for few cents. Even the super rich in our country pay upto 30-35%. This calculation shows more that 70% which is shocking. Our tax system is not cruel.

1 person likes this

@arunima25 (87772)

• Bangalore, India

10 Jan 20

@AkoPinay Yes. Many including me are getting our money in bank through PayPal. No one has experienced anything like that. It's a nominal fees that is deducted.

1 person likes this

Darcy Nemo

@YrNemo (20255)

•

8 Jan 20

I thought that was true (the high tax system in India) until reading your post. Good on you for pointing that out.

1 person likes this

@arunima25 (87772)

• Bangalore, India

10 Jan 20

That's why I made a separate post. We do not have a cruel tax system. We are taxed only if we earn good enough to come under tax slab. There is no tax for poor and people who earn less. Also the percentage of tax deduction depends on your earning. The maximum tax deduction for super rich in the country is 30-35%. His miscalculation shows more than 70%. Also $5 is too less to be taxed. Paypal might deduct a nominal fees for few cents.

1 person likes this

Nocturnal Writer

@Nakitakona (56486)

• Philippines

7 Jan 20

Sorry no idea. To patch up things which are confusing, there should be clarification. Let's remember that a little learning is dangerous thing

1 person likes this

@arunima25 (87772)

• Bangalore, India

7 Jan 20

Yes right. I was shocked to see that discussion. I got confused and needed some clarification from other people here. It will help that user too.

1 person likes this

@arunima25 (87772)

• Bangalore, India

7 Jan 20

@Nakitakona Actually if you believe the discussion posted, more than 75 percent has gone for tax. That's unbelievable.

1 person likes this

Nocturnal Writer

@Nakitakona (56486)

• Philippines

7 Jan 20

@arunima25 Sometimes I receive some and had already interacted. And some I ignore them.

1 person likes this

Raj

@Butterfingers (66583)

• India

7 Jan 20

I think the user miscalculated

1 person likes this