Whether it is filing Income Tax Return or buying gold more than the prescribed limit, PAN card is required for everyone. But is it necessary to make PAN card for children too? According to section 160 of the Income Tax Act, there is no minimum age limit for making PAN card. That is, PAN card can be issued to everyone, whether it is an adult or a minor.
Minor can apply for PAN card
There is no minimum age limit for issuing PAN card. If needed, PAN can be issued to a child below five years of age. In such a case, parents or legal guardians will apply for the child’s PAN card
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When do children need a PAN card?
- Whenever any investment is started in the name of the child, the child’s PAN card is required at that time.
- Even if the child is made a nominee in the investment, his PAN card will be necessary.
- PAN card will also be required to open a bank account.
- If a minor is earning and needs to file ITR, then he will also need a PAN card.
Also Read: How to Check TDS Status by PAN Card? Step by Step Process
How to apply?
- This work can be done online or offline. How to apply online
- The child’s guardian will first have to go to the official website of NSDL. After this, they will have to download 49AA.
- Now enter the information of the person in whose name the PAN card is to be issued.
- Now upload the necessary documents and the child’s photo.
- Upload the signature of the parents or guardians.
- After making the payment, submit the form.
- Now you will get a receipt number. With the help of which the application status can be tracked.
- When the verification process is completed, then you will get the PAN card in 15 days.