PAN Card for Minor: A Pan card or permanent account number is the most important document required for every financial transaction.
PAN Card for Minor: A Pan card or permanent account number is the most important document required for every financial transaction. It contains the name, gender, date of birth, and PAN of the cardholder. On behalf of the minor, parents or guardians of a child can apply for a PAN card. The Income Tax Department has not set a minimum age requirement for acquiring or obtaining a PAN card.
As per the regulations, there is no cap on ITR filings in India. A minor may also submit an ITR if his/her monthly income exceeds Rs. 15,000. It is very important to have a PAN card to file an ITR. As a result, the Income Tax Department has not mandated a minimum age requirement for getting a PAN card.
Read More: SBI gave Rs 21,000-cr loans to Adani Group firms: Report
Whenever a parent makes an investment in their child’s name and names their child as the beneficiary of the same investment. In that case, the parents intend to open a bank account in the name of the child, which will serve as the minor’s first paycheck.
How to apply for a minor’s PAN Card?
On behalf of the child, the child’s parents or legal guardians can apply for a PAN card for the minor. In that case, the guardian is responsible for submitting an ITR on behalf of the child. Since the PAN card issued in the name of a minor does not bear his photograph and signature, it cannot be used as identification proof. When the minor turns 18, he/she has to apply for a PAN card update.
Documents Required to apply for a Minor PAN Card
- Date of Birth (D.O.B) Proof of the minor
- Address proof and identity of the parents of the minor will be required.
- Proof of address and identity of the applicant is also required.
- As identity proof, the guardian of the minor can submit any one document out of Aadhaar card, ration card, passport, driving license.
- For address proof, a copy of Aadhaar card, post office passbook, property registration documents or original residence certificate will have to be submitted.
Read More: Save your Aadhaar, PAN, Driving License from destruction: Use these steps to keep copy on smartphone
Procedure for PAN Applications: How to Apply?
- Visit the official website of NSDL at onlineservices.nsdl.com/paam/endUserRegisterContact.html.
- Read the directions before filling out Form 49A.
- Upload the minor’s birth certificate, along with any other required paperwork, including the parents’ pictures.
- Upload the parents’ signatures.
- Complete the procedure by making a payment of Rs 107.
- Now you are required to click on the submit button.
- You will be given an acknowledgment number through which you check the status of an application. The PAN card will reach to you within 15 days of its successful verification.
