How To Apply For Minor PAN Card: Whether you are filing an income tax return opening a bank account or you want to start investing in various investment instruments, there are a plethora of things that cannot be completed without a PAN card. That means, having a PAN card is essential. A majority of people believe that PAN cards are only issued to individuals over the age of 18, but they are mistaken. You can also get a PAN card for your kid. According to section 160 of the Income Tax Act, a PAN card created for a kid is known as a “Minor PAN Card. However, only the parents are allowed to use this PAN card until the children achieve maturity.
According to the Income Tax Department, any minor may get a PAN card, there are no regulations for this. However, it is necessary to get it updated when the kid becomes 18 years old. There is no signature or photo on the Minor PAN Card, which is necessary to update later.
Read More: Rupee Hits Fresh All-Time Low of 84.11, Traders Say Currency Likely to Remain in Narrow Range
Benefits of a Minor PAN Card
– Investment: A PAN card will be required if you wish to invest in your child.
– Its significance grows even more if you want to name your child as a nominee in your investment.
– Bank Account: To open an account in a bank, a PAN card is required.
Read More: Make Contributions To NPS Account Through PhonePe App –Check Steps
Step-by-step guide to applying for a minor PAN card
– You need to visit the NSDL Website and then, tap on the link “Online PAN Application.”
– Next, click on the “New PAN- Indian Citizen (Form 49A)” option, and then select “Individual” in the category.
– You need to submit your full name, DOB, phone number, email address and other details.
– Next, fill in the captcha code and click on Submit.
– In a few seconds, You will have a token number on screen.
– Write it down and click “Continue with PAN Application Form.”
– Now, select “Forward application documents physically” on number 3.
Read More: Chhath Puja 2024 Bank Holiday: Are Banks Closed On November 7, 8, Check Full State-wise List
– Enter the last 4 digits of your Aadhaar card and name, and check the information you have already entered.
– You will be asked to fill in several new details here.
– Next, you will have to submit the minor’s parent information, income information, and other papers.
– Next, you will have the submit option. by paying a charge of Rs 107.
– Note: After the verification is complete, the PAN card can be downloaded online. It takes at least 15 days to make a PAN card.
Document required to apply for minor PAN
Aadhaar card, Ration card, Post office passbook, Domicile certificate
