PAN Card for Children: Find out when your child needs a PAN card, the benefits, and the simple application process.
The PAN card and Aadhaar card are important identification documents in India. You need a PAN card for most financial transactions, like opening a bank account or filing income tax returns.
You might think PAN cards are only for adults who pay taxes. But that’s not always true. Even children can have PAN cards.
According to Section 160 of the Income Tax Act, minor children can apply for a PAN card, specifically a Minor PAN Card. This card is issued in the child’s name, but only parents or guardians can use it until the child reaches the age of 18.
A PAN card is a valuable ID card for your child. It can be helpful in many ways, even if they don’t pay taxes yet.
When Does a Child Need a PAN Card?
- Investments: A PAN card is necessary if you want to make your child a nominee for your investments.
- Bank Accounts: Opening a bank account for your child often requires a PAN card.
- Income: If your child earns income (like from a part-time job or investments), they’ll need a PAN card for tax purposes.
Why Does a Child Need a PAN Card?
A PAN card is mandatory for children if they:
- Earn income from investments or other sources.
- Have a bank account or deposits exceeding ₹10,000.
- Own or inherit property.
- Receive a scholarship or prize money exceeding ₹10,000.
Benefits of PAN Card for Children
A PAN card for your child offers several benefits:
- Identity Proof: A PAN card serves as a unique identification proof for your child.
- Financial Transactions: These are needed for various financial transactions in your child’s name.
- Future Investments: Having a PAN card early on makes it easier to manage your child’s finances in the future.
Applying for a minor PAN (Permanent Account Number) card can quickly open many financial opportunities for your child and provide them with significant benefits.
Apply for a PAN Card for Your Child Offline
- Fill out Form 49AA offline.
- Attach required documents (birth certificate, ID proof, address proof)
- Pay the applicable fee
- Submit the application
How to Apply for a PAN Card for Your Child?
Applying for a PAN card for your child is straightforward:
- Visit the NSDL website: https://pan.utiitsl.com/ and select the “Online PAN Application” option.
- Choose the application type by clicking on “New PAN – Indian Citizen (Form 49A)” and select “Individual” under the category.
- Fill in the personal details, including the minor’s full name, date of birth, phone number, and email address. Make sure to double-check these details for any spelling mistakes.
- Enter the captcha code and submit the completed form.
- After submission, a token number will appear on your screen. Be sure to note it down.
- Click on “Continue with PAN Application Form” to proceed.
- Select “Forward application documents physically” to submit the required documents in person.
- Fill in your Aadhaar details by entering the last four digits of your Aadhaar card and verify the information you entered.
- Provide the details of the minor’s parents or guardians, income information, and any other required documents.
- Finally, pay the fee of ₹107 to complete the application process.
Documents Required:
- Birth certificate
- ID proof (Aadhaar, passport)
- Address proof (utility bills, passport)
- Parent’s ID and address proof
Purposes of a Minor PAN Card:
A minor PAN card means your child can easily access various financial opportunities. If a minor has a PAN card, all monetary transactions in their name, such as investments and banking activities, can be processed smoothly.
According to the Income Tax Act, minors can obtain a PAN card without restrictions or conditions. Parents or guardians apply for a PAN card for their child. However, when the child turns 18, they must update the PAN card with their photo and signature.
When Will the Minor PAN Card Arrive?
Once you submit the application form, the relevant authorities will verify the details. After verification, you can download the PAN card online. The physical card will be sent to your registered home address, typically arriving within 15 days.
A PAN card is crucial for your child’s financial future. It helps track income, enables easy banking, and enhances financial security. Please apply for a PAN card for your child today and secure their tomorrow!