Usually, people think that a PAN card is made only for those above 18 years of age, but this is a misconception. According to Section 160 of the Income Tax Act, you can also get a PAN card made for your child. This is called a “Minor PAN Card”. However, it can only be used by parents.
PAN card can also be made for the child
You can also get a PAN card made in the name of your child. This is called a Minor PAN Card. This PAN card can only be used by parents.
Why is a Minor PAN Card necessary?
For investment: If you want to invest in your child’s future, be it stock market, mutual funds, or any other investment scheme, a PAN card is necessary.
To open a bank account: A PAN card is also required to open a bank account in the name of the child. This is an important step for their future, especially for developing financial education and savings habits.
To file income tax returns: If the child has any income, such as rental income, interest income, or income from any other source, he/she must file income tax returns. A PAN card is mandatory for this.
To avail of government schemes: There are many government schemes that are for the welfare and education of children. A PAN card may also be required to avail of these schemes.
Required Documents
Aadhaar Card
Ration Card
Domicile Certificate
Post Office Passbook
Online Application Process
Visit the NSDL website: Search “NSDL” on Google and click on the first link.
Choose New PAN Card: Select “New PAN- Indian Citizen (Form 49A)”.
Choose Individual Category: Select “Individual”.
Fill in applicant details: Fill in the full name, date of birth, mobile number, and email ID.
Fill captcha and submit: A token number will be received, note it down.
Choose document submission option: Select “Forward application documents physically”.
Fill in Aadhaar card details: Fill in the last 4 digits and name.
Fill in other details: Upload parent details, income details, and documents.
Pay the fee: Pay a fee of ₹107.
Offline Process
You can also fill out and submit the PAN card application form at your nearest bank or post office. Original copies and photocopies of the required documents have to be submitted.