Creating a PAN card for a minor in India is a significant step for parents or guardians. It plays a crucial role in various activities like financial transactions, opening bank accounts, and filing taxes. If parents wish to open a bank account for their child, a PAN card is essential. Additionally, when investing in their child’s name or designating them as a nominee for financial products, a PAN card is also required.
The application process for a minor’s PAN card is straightforward and can be completed online or offline. Below are the steps, necessary documents, and other key information.
Why is a PAN card necessary for a minor?
When parents invest in mutual funds, stocks, or other financial instruments in their child’s name, having a PAN card is compulsory. Furthermore, it is essential for addressing the financial needs of a minor.
How to apply online?
1. Go to the NSDL website at https://www.onlineservices.nsdl.com/paam/endUserRegisterContact.html.
2. Choose the application type: Select “New PAN – Indian Citizen (Form 49A)” and choose “Individual” in the category.
3. Complete Form 49A: Fill in the minor’s name, date of birth, and the guardian’s address. Upload the necessary documents, including an identity card, proof of address, and the birth certificate.
4. Make the payment: You can pay using a Debit/Credit Card, Net Banking, or Demand Draft.
5. Submit the application: After entering all the details and uploading the documents, click on “Submit.”
6. Obtain the acknowledgment number: You will receive a number to track the status of your application.