PAN cards for children: The Permanent Account Number (PAN) card is required for all types of financial transactions. The PAN card enables you to open a bank account, purchase real estate, or invest in government financial instruments. It is also widely accepted as a form of identification in the country.
When a child reaches the legal age of 18 and needs to open a bank account or start working to pay taxes, a PAN card is usually issued. However, PAN cards can be issued to those under the age of 18. The only difference is that here, parents must apply for the PAN card on behalf of their children.
Here’s how to apply for a PAN:
- Go to the NSDL’s official website.
- Fill in all of the information requested by the website by selecting the appropriate category, including other important documents such as proof of minor’s age and parent’s photo.
- Keep in mind that only parents can fir their children.
- Pay the Rs 107 fee and submit the form.
- You will be given a receipt number that will allow you to track your application.
- You will receive your PAN card within 15 days of successful verification.
- The minor’s parents’ address and proof of identity
- The applicant’s address and proof of identity
- The minor’s guardian must submit any of the following documents as proof of identity: Aadhar Card, Ration Card, Passport, Driving License, and Voter ID.
- For address proof, a copy of the Aadhaar card, post office passbook, property registration document, or original residence certificate must be submitted.
Kids PAN cards are useful if you want your child to be the nominee of your investment or if the investment is made in the child’s name.