Last Update: January 06, 2023, 12:27 pm IST
Minor can submit PAN card application. As per the rules, there is no cap on ITR filing in India.
A minor can also submit ITR if his monthly income exceeds Rs. 15,000. PAN card is necessary to file ITR.
Every member of the nation who pays taxes gets a 10-digit unique identification number called Permanent Account Number (PAN). PAN card is essential for everyone who pays taxes including individuals, corporations, organizations and local governments.
Minor can submit PAN card application. As per the rules, there is no cap on ITR filing in India. A minor can also submit ITR if his monthly income exceeds Rs. 15,000. PAN card is necessary to file ITR. Consequently, the Income Tax Department has not prescribed the minimum age requirement for obtaining a PAN card.
When is a PAN card required for a minor?
When you invest in the name of your child and name your child as the beneficiary of your investment.
You want to open a bank account in the name of the child.
Minor’s first salary.
How to apply for PAN card for minor?
PAN card application is submitted on behalf of the parent or other legal guardian of the minor. The guardian is also liable to file ITR on behalf of the child.
A PAN card issued in the name of a minor does not bear his signature and photograph, hence cannot be used as a form of identification. The application for PAN card update needs to be submitted after the child has attained the age of 18 years.
Process of PAN applications:
Step 1: Navigate to the NSDL website.
Step 2: Read the instructions carefully before filling Form 49A.
Step 3: Upload the birth certificate of the minor along with any other required paperwork including photographs of the parents. Upload parent’s signature.
Step 4: Complete the process by paying Rs 107. Click on submit button. An acknowledgment number will be given, which can be used to check the status of an application. After successful verification, the PAN card will be delivered to you within 15 days.
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