Courtney C. Lipsey Myth: A PAN card (Permanent account number) can only be issued for individuals over the age of 18. There is no limit on age for obtaining a PAN under Section 160 of the Income Tax Act. Even minors can get a PAN. Read on to learn how to apply for minor PAN cards, eligibility criteria, required documents, benefits, and the PAN update process when a child becomes an adult.
PAN Card Benefits for Minors
The application for a PAN for your child has many advantages. Here are some of them:
- A minor PAN card can be used as identity proof by any child under the age of five.
- You must have a valid PAN card to name your child as the heir of your property.
- You will need the PAN number of the child if you wish to invest in their name.
- You must provide your child’s PAN card when you open a new bank account in their name.
- When opening a bank under the child’s name, parents will need to provide their PAN card.
- According to Section 64 (1A), the income of children is combined with that of their parents. The amount earned, however, is taxed individually.
- A minor who is physically disabled earns income through their skills, knowledge, manual labor, etc. ).
How do you apply for a Minor PAN Card online?
Follow these steps to apply online for a minor PAN card
Step 1. Visit the Tax Information Network of Protean eGov Technologies Limited website and click the “Online PAN Application Tab.”
Step 3: Select the appropriate option from the drop-down menu. Depending on your status, you can use Form 49 or 49A.
Step 4: Select the category that the applicant belongs to from the list of categories provided after reading the instructions. Click “Select” when you are done.
Step 4: Fill in the required details on the screen.
Step 5 Submit all the documents required as specified in the instructions.
Step 6 Pay the processing fee online
Step 7: Click “Submit” after filling out the form.
Step Eight: An onscreen reference number will be displayed. You can use this number to track your application’s status.
Step 9: The PAN card is sent by mail to the address specified in the form.
How do you apply for a Minor PAN Card online?
Follow these steps to apply online for a minor PAN:
Step 1. Go to the official website for tax information. Download Form 49A if you are an Indian resident or Form 49B if you are not. You can also obtain the form from UTIITSL via their agents.
Step 2: Fill in the blanks and attach the relevant documents.
Step 4: For a minor card, a photograph is not necessary.
Step 4 Submit the form, documents, and payment to the nearest UTIITSL Office.
Step 6: After verifying all the information provided, the PAN will be sent to the address indicated in the form.
What is the process to update a minor PAN card to become a major?
The PAN card must be updated if a minor is promoted to a major. The following are the steps to be taken.
- Forms 49A and 49AA: When a person reaches maturity, they must apply for a brand new account by using Forms 49A in the case of Indian citizens or 49AA when they are foreigners.
- Fill in the form: The individual must fill out the new condition with the appropriate information. Sign the form.
- Documents: A candidate must provide all necessary documents, including photos and proof of address.
- Filling out and submitting the form: You can complete and submit the form online or by mail. Before submitting, it is recommended that individuals thoroughly review all information provided.
- Payment: A person is required to pay the amount needed, which is determined by their communication address. People with domestic addresses are required to pay Rs. People with domestic addresses are required to pay Rs. 989.
- AAcknowledgmentNumber: An acknowledgment number is generated upon successful payment. You can use this number to contact the department in the future.
Conclusion
PAN cards are required for many activities ,including buying cars and real estate, making large cash deposits, and paying taxes. Minors also need a PAN card, as it’s necessary for many things, such as naming the minor an heir and investing in the mminor’sname. Children are required to apply for this document.
