Permanent Account Number (PAN) card is an essential document for making all types of financial transactions. PAN card helps you to open bank account, buy property or invest in any government financial instrument. It is widely accepted as an identity document in the country.
A PAN card is usually generated after the age of 18 when the child reaches his legal age and needs to start a bank account or job to pay taxes. However, a PAN card can also be issued to people under the age of 18 years. The only thing is that here, parents have to apply for PAN card on behalf of their children.
Here is how you can apply for PAN:
– Visit the official website of NSDL
– Fill all the information required by the website by selecting the correct category including other important documents like proof of age of minor and photo of parents
– Remember, only parents can cremate their children
– Pay the fee of Rs 107 and submit the form
– You will receive a receipt number through which you can track your application
– PAN card will reach you within 15 days of successful verification
– Proof of address and identity of minor’s parents
– Proof of address and identity of the applicant
– Guardian of minor to submit any documents like Aadhaar Card, Ration Card, Passport, Driving License, Voter ID etc. as proof of identity
– Copy of Aadhaar Card, Post Office Passbook, Property Registration Document or Original Residence Certificate should be submitted for address proof.
A child PAN card comes in handy if you want your child to be your investment nominee or have invested in the child’s name.