A permanent account number is a special combination of 10-digit alphanumeric characters assigned via the Income Tax Department to any individual, who applied for it. PAN is required for money related exchanges, for example, accepting assessable pay or expert charges, deal or buy of advantages above indicated limits, purchase shared assets and that’s just the beginning. PAN Card is also compulsory required if you want to make a nominee to your investment like property, inventory and some other financial product. So in case your purpose to make your minor child, a nominee in your investments, you would be required to provide the Minor PAN Card .
Why Need A PAN for a Minor?
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PAN may be used as a proof of identification, and in various other cases including to open financial institution financial, savings account in the minor’s name, or a Sukanya Samriddhi Yojana account to your daughter.
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A PAN becomes mandatory, the kid can even file her earnings tax go back via a consultant.
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other than that, it could function an identity proof in your child that would show his connection with India and within the future, it is probably easy for him to get loads of factors here and to expose that he’s related to India like his parents.
Applying for a Minor PAN Card
If you are applying PAN Card for a Minor then you should know that there is two process first is online and second is offline. See both the process given below:
Online Process for a PAN Card for a Minor
1. Go to the Tax information Network website click on “Apply for PAN Online ”.
2. Scroll to the bottom and select either Form 49(for residents) or Form 49A (Non-residents), which is depending on your residency place.
3. Before filling the form read all guidelines, instructions and documents required information.
4.Now fill all the details carefully which is mention in form, after filling information click on “Submit” button.
5. After filling in the form, select a mode of payment as per your convenience. The options provided are demand draft, cheque, credit/ debit card and net banking.
6. After payment process verification, PAN Card will be delivered on those address which is mention on the form.
Offline Process for a PAN Card for a Minor:-
1. Go to the Tax information Network website and download either Form 49(for residents) or Form 49A (Non-residents).
2. You can also get a form from UTISL offices or their agents.
3. Fill the appropriate details carefully, with the form you also have to attach copies of required documents.
4. In a Minor PAN card, there is no needed of the photograph.
5. Go to the nearest UTISL office, and submit the form as well as required documents with the processing fee amount.
6. After form verification, PAN Card will be delivered on those address which is mention on the form.
How To Update A Minor’s Pan Card Once He Becomes Major:-
A PAN card issued within the name of a minor does not contain the minor’s signature or photograph, and therefore, can’t be used as a valid proof of identification. If a minor PAN card holder turns 18, the applicable modifications have to be made inside the PAN statistics. A new PAN card is then issued bearing a signature and photo.
The updating process is very easy which is given below:-
Application: – The applicant is needed to fill the “Request for new PAN card and/or changes or correction in PAN Records” form. The form can be filled up online by getting access to NSDL’s Tax Information Network website and clicking on the online PAN application tab.
Information: – The applicant should mention the present PAN wide variety inside the utility and check the ‘photo mismatch’ and ‘signature mismatch’ boxes, then submit the form online. The form should also be printed out, signed by the applicant, and submitted along by two photographs.
Documents:- identification, as well as address proof in the form of the applicant’s Aadhaar card, voter identity, passport or any bank or financial institution account statement, need to also be appended with the application form.
Fee : – A charge of Rs 107 desires to be paid either via online banking or through credit/debit card. alternatively, a demand draft of Rs 107 drawn in choose of NSDL-PAN should be appended to the application. If you are non- residents you should pay Rs 989.
Process: – one-time online form has been submitted, the applicant will obtain an acknowledgment no. The completed application has to be dispatched to the closest NSDL or UTISL-approved center.
Noted point: – The applicant can find out the status of his application by way of quoting the acknowledgment range.
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If essential, the applicant also can make any changes to the PAN card (name or address correction, and many others.) at that time, by using filing the applicable documents.
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The applicant must ensure that the proof of address, identification, etc. appended to the application is valid.
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The applicant should ensure that the proof of address, identity, etc. appended to the application is valid.
Documents to be submitted for PAN card for Minor:-
For Minor or child, the documents submitted as proof of identity and address of any of the parents and guardians of such minor will be considered to be the proof of identification and address for the minor applicant. Below is the list of documents which accepted as ID as well as Address proof.
Proof of Identity (copy of any one ):-
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School leaving certificate
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Aadhar Card
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Matriculation certificate
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Degree of a recognized educational institution
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Depository account statement
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Credit card statement
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Bank account statement/ bank pass book
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Water bill
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Ration card
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Property tax assessment order
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Passport
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Voters Identity Card
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Driving License
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Certificate of identity signed by Member of Parliament or Member of Legislative Assembly or Gazetted Officer or Municipal Councilor.
Address Proof (copy of any one ):-
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Electricity bill
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Telephone bill
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Depository account statement
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Credit card statement
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Bank account statement/bank pass book*
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Rent receipt
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Employer certificate
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Passport
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Voters Identity card
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Property Tax assessment order
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Driving License
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Ration card
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