Withdrawal Problem Solved with Purpose Code for Paypal in India
Purpose Code for Bloggers and Freelancers
Purpose Code P0805 and P0806 are best suited for freelances and bloggers.
PayPal has clear instructions on how to withdraw PayPal funds to India, Paypal explained that the new directives issued to them by RBI requires all Indian PayPal users to input a Purpose Code while withdrawing funds to Indian Banks, this code is required to identify the nature of cross-border merchant transactions.
Purpose Code to use?
| Purpose Code | Category | Description |
| P0104 | Export of Goods | Value of export bills negotiated / purchased/discounted etc. (covered under GR/PP/SOFTEX/EC copy of shipping bills etc.) |
| P0301 | Travel , Hospitality and Tours | Purchases towards travel (Includes purchases of foreign TCs, currency notes etc over the counter, by hotels, hospitals, Emporiums, Educational institutions etc. as well as amount received by TT/SWIFT transfers or debit to Non-Resident account). |
| P0801
P0802 P0803 |
Information Technology | Computer Information Services. Hardware / Software / Data Processing consultancy/implementation |
| P0805
P0806 |
Content and Journalism | News Agency and Subscription services |
| P0902 | Licensing of creative works | Receipts for use, through licensing arrangements, of produced originals or prototypes (such as manuscripts and films) |
| P1004 | Other services | Legal Services |
| P1005 | Accounting, auditing, book keeping and tax consulting services | |
| P1006 | Business and management consultancy and public relations services | |
| P1007 | Advertising, trade fair, market research and public opinion polling services | |
| P1008 | Research & Development services | |
| P1009 | Architectural, engineering and other technical services |
