A minor may also submit an ITR if his or her monthly income exceeds Rs. 15,000. It is crucial to have a PAN card in order to file an ITR.
Each member of the nation who pays taxes receives a 10-digit unique identifying number called a Permanent Account Number (PAN). A PAN card is necessary for everyone who pays taxes, including people, corporations, organisations, and local governments.
A minor may submit a PAN Card application. According to the regulations, there is no cap on ITR filings in India. A minor may also submit an ITR if his or her monthly income exceeds Rs. 15,000. It is crucial to have a PAN card to file an ITR. As a result, the Income Tax Department has not set a minimum age requirement for getting a PAN card.
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When is a Minor’s Pan Card Required?
When you make an investment in your child’s name and designate your kid as the beneficiary of your investment.
You intend to open a bank account in the child’s name.
The minor’s first paycheck.
How to apply for a minor’s PAN Card?
On behalf of a minor’s parents or other legal guardians, a PAN card application is submitted. The guardian is also accountable for submitting an ITR on the child’s behalf.
The PAN card issued in a minor’s name lacks his signature and photo, so it cannot be used as identification. The child must submit an application for a PAN card update after they turn 18.
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Procedure for PAN Applications:
Step 1: Navigate to the NSDL website.
Step 2: Carefully read the directions before filling out Form 49A.
Step 3: Upload the minor’s birth certificate, along with any other required paperwork, including the parents’ pictures. Upload the parents’ signatures.
Step 4: Complete the procedure by making a payment of Rs 107. Click on the submit button. An acknowledgment number will be given, which can be used to check the status of an application. After successful verification, the PAN card will be delivered to you within 15 days.
