PAN Card for Minors: PAN card (Permanent Account Number) will now be made not only for elders but also for children. No age limit has been prescribed for making PAN card in Section 160 of the Income Tax Act. This means that now PAN card will also be made for minor children below 18 years of age. If parents want to make their children financially secure for the future, then making a PAN card is necessary. If you want to make your children a nominee in shares, mutual funds or any other investment, then it is necessary to make a PAN card in this regard.
That’s why PAN card is necessary
To avoid tax, the income of minors is usually linked to the income of parents, but if children below 18 years of age earn income from job or business or any other professional way, then they fall in the category of tax payer. Come in and for this it is necessary to have PAN card. Apart from financial security, PAN card is also required to avail scholarship or government schemes.
How to apply for PAN card
- Go to Google and search NSDL PAN application website. After this, click on the first link (official NSDL portal).
- Select the option ‘new PAN-Indian citizen (Form 49A)’.
- After this select ‘Individual’ category.
- Fill the full name, age, mobile number, email ID of the minor here. Enter the captcha and click on the submit button.
- Now you will get a token number, write it down carefully somewhere else and ‘continue with PAN application form.’ Click on.
- After this, go to document mode and link the Aadhaar card. After this, parents should fill their complete details including income and submit the documents. Deposit the fees to complete the application.
After verification, your PAN card will be ready within about 15 days. If you want, you can download it online also.
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