A PAN (Permanent Account Number) card is an essential document for numerous financial and legal activities in India. From filing income tax returns to opening a bank account or starting investments, a PAN card is often indispensable. However, contrary to popular belief, PAN cards are not limited to individuals above the age of 18. Under Section 160 of the Income Tax (I-T) Act, even minors can hold a PAN card, referred to as a Minor PAN Card. This card, while issued in the minor's name, can only be utilised by their parents or guardians until the child reaches adulthood.
Applying for a Minor PAN Card is a straightforward process that ensures your child is financially ready for various opportunities. Whether for investments or banking needs, securing a PAN card for your minor paves the way for smoother financial transactions in their name.
Key Details About Minor PAN Cards
The I-T Department allows minors to obtain a PAN card without any specific restrictions. However, certain updates, such as adding a signature and photo, become mandatory when the child turns 18.
Benefits of Having a Minor PAN Card
Investment Purposes:
A PAN card is required to invest in the name of a minor or designate them as a nominee in financial instruments.
Bank Account Opening:
If you wish to open a bank account for your child, a PAN card is mandatory.
How to Apply for a Minor PAN Card: A Step-by-Step Guide
Visit the NSDL Website:
Go to the NSDL platform and select "Online PAN Application."
Choose Application Type:
Click on "New PAN - Indian Citizen (Form 49A)" and select "Individual" under the category.
Enter Personal Details:
Provide details such as full name, date of birth (DOB), phone number, and email address.
Complete Captcha Verification:
Fill in the captcha code and submit the form.
Receive Token Number:
A token number will appear on your screen. Note it down and proceed by clicking "Continue with PAN Application Form."
Document Submission Method:
Select "Forward application documents physically" as the mode of document submission.
Fill Aadhaar Details:
Enter the last four digits of your Aadhaar card and verify the previously entered details.
Provide Additional Information:
Add the minor's parent or guardian details, income information, and other required documents.
Submit the Application:
Complete the process by paying a fee of Rs 107.
PAN Card Issuance:
After verification, the PAN card can be downloaded online. It typically takes about 15 days to receive the card.
- Documents Required to Apply for a Minor PAN card
- Aadhaar card
- Ration card
- Post office passbook
- Domicile certificate