PAN Card for children: Process to apply, documents required, benefits & more [Explained]
New Delhi, Aug 30: Are you planning to make investments in your child's name or thinking about making him/her a nominee in the property? Well, if you are then the first thing that you need to do is apply for your child's PAN card.
Yes, unlike the popular belief that the PAN card is only for adults, here is the real fact. There is no age limit for applying for a PAN card and in certain cases, it is important that you get your minor's PAN card made.
Well, the fact is there is no minimum or maximum age specified limit for PAN card applications. Even minors can get a PAN card as per section 160 of the Income Tax Act.
The next question that comes to your mind is whether it will what is the purpose of having a PAN card for children? The first and foremost use is it will serve as an ID card for your kids. However, it is mandatory if you are making investments on behalf of your children.
Also, if you are making your child a nominee on a property or a financial product, it is mandatory to have a PAN card.
It has to be noted that their investments will not be taxable, but if they earn the money themselves, it is taxable. Also, if the minor has a physical disability or suffering from total blindness, then their income is taxable.
Can
minors' apply
for
their
PAN
card
on
their
own?
No.
Parents,
guardians
or
representative
assessees
should
apply
for
the
PAN
card
on
behalf
of
children.
The documents required for PAN card:
Proof
of
identity
Aadhaar
card:
Ration
card
Passport
Driving
license
Photo
ID
card
issued
by
the
Government
Voter's
ID
card
Arm's
license
Pensioner
card
Central
Government
Health
Service
Scheme
card
Ex-servicemen
Contributory
Health
Scheme
Photo
card
Original
Certificate
of
identity
signed
by
a
Member
of
Parliament/Member
of
Legislative
Assembly
or
Legislative
Council/Gazetted
Officer
Original bank certificate on official letterhead along with photograph from issuing bank branch, attested by a bank officer
Proof
of
Address:
Passport
Voter's
ID
card
Domicile
certificate
issued
by
a
state
government
Aadhaar
card
Post
office
passbook
Property
document
Original
Certificate
of
address
signed
by
a
Member
of
Parliament/Member
of
Legislative
Assembly
or
Legislative
Council/Gazetted
Officer
Electricity/landline/water/consumer
gas
bill
(not
more
than
3
months
old)
Credit
card/account
statement
(not
more
than
3
months
old)
Proof
of
Age:
Aadhaar
Card
Birth
Certificate
School
Leaving
Certificate
and
valid
markscard
issued
by
recognised
board
Photo
ID
card
issued
by
Government
Domicile
certificate
Central
Government
Health
Service
Scheme
photo
card
Online
process
to
apply
for
PAN
Card
for
Minor:
It
is
not
possible
for
minors
to
apply
for
PAN
card
directly,
minor
guardians,
representatives
or
parents
applies
PAN
card
for
minors.
Steps
to
follow
are:
- Enter the official website - https://nsdl.co.in/
- Select Application Type
- Select 'New Pan - Indian Citizen (Form 49A)' option from the drop down menu.
- Enter all necessary details as given in the instructions.
- Upload photograph and necessary documents.
- Make payment and then click on 'Submit' button to complete the process.
- You will get an acknowledgement number that can be used to track the PAN application.
Offline process to apply for PAN Card for Minor:
- Log into the official site of NSDL portal.
- Download Form 49 (Indian residents) and Form 49A (non Indianr residents) from the tax information website
- Read all the instructions provided in the form.
- Fill in the relevant details as per the documents and attach copies of the documents required.
- Photos not required for minor PAN card.
- Manually submit the application form nearest UTIITSL office with the processing fees.