Many Indians have a misconception that PAN cards are only issued to those who are at least 18 years old. However, people, especially those having kids, should know that kids too are issued PAN cards to be used as identification document. The Income Tax Department has made the process for minors – under the age of 18 – to get PAN cards quite convenient.
A minor's parents or the person designated as legal guardian can submit the application for a PAN card. However, a very important question you may ask is why a minor needs a PAN card.
Why does a minor need a PAN card?
If you intend to name them as a nominee on your investments, such as real estate, stocks, or any other financial asset, a PAN card is legally necessary.
Additionally, the PAN is necessary if you intend to invest in anything under your minor child's name. Both the parents' and the minor's PAN cards are needed.
How to apply for a PAN card for a minor?
Step 1: Visit the official NSDL website and, depending on your residency status, choose the Form 49 (for Indian residents) or Form 49A (for Indians not residing in India) option from the drop-down menu.
Step 2: After reading the instructions, choose the applicant's category from the drop-down list offered, click "Select," and then fill out the form that appears on the screen with the necessary information.
Step 3: In accordance with the instructions on the form, upload the necessary supporting documents and pay the online processing cost.
Step 4: After filling out the form, click "Submit," and a reference number will show up on the screen. This may be used to track the application's progress.
Step 5: The PAN card will be mailed to the address specified in the form.
Step 6: You can download Form 49 or Form 49A from the Tax Information website if you want to submit your application offline. Additionally, the form is accessible through UTIITSL agents and in their offices.
Step 7: Complete the necessary fields and affix copies of the necessary documents. Submit the form and documentation, together with the processing fee, to the nearest UTIITSL office.
The documents necessary for the PAN card application are proof of identification, proof of address, and proof of age. However, for children, the parent's or guardian's identification and proof of address documents will be taken into account.
When a minor PAN card holder reaches the age of 18, they must reapply for an account by submitting form 49 or 49A again with the revised information and supporting documentation.