Quick Answer: What Is The Age Limit For PAN Card?

Is Minor PAN card valid?

PAN card or Permanent Account Number is one of the most important documents for the citizen of India.

A PAN card issued for a minor does not have the minor’s photo or signature, therefore, it cannot be used as a valid identity proof.

After a minor turns 18, the necessary changes should be made in the PAN records..

How can a minor apply for a PAN online?

Step 1: Visit the official website of NSDL, click on ‘Online PAN application’. Step 2: On the homepage click on the “New PAN for Indian Citizen (Form 49 or Form 49A)” option. Step 3: After that enter the required details (Child’s name, parent’s phone number and e-mail address, etc).

Can I open bank account with minor PAN card?

No, it is not mandatory for a minor to apply for PAN Card for opening a bank account. … A regular Account opening form will be required to be filled by the parent or guardian with the Minor being the first holder and the Parent/Guardian as a Joint Holder.

Is PAN card free of cost?

PAN allotment based on Aadhaar is free of cost. PAN pdf will be generated and issued to applicant.

What is PAN card and its importance?

The Permanent Account Number (PAN) card, issued by the Income tax Department, is one of the most important documents nowadays. Uses Of Pan Card. The card was issued in order to prevent tax evasion by individuals and entities as it links all financial transactions made by a particular individual or entity.

Can a 17 year old apply for PAN card?

Yes, individuals can apply for PAN Card for a minor child without any hassle. Minor is a person who is below the age of 18 years. However, the minor cannot apply for a pan card directly. Parents, guardians or representative assessee’s of the minor can apply for PAN card.

Why is PAN card mandatory?

It also serves as an identity proof. PAN is mandatory for financial transactions such as receiving taxable salary or professional fees, sale or purchase of assets above specified limits, buy mutual funds and more. … The PAN number remains unaffected by change of address throughout India.

Is PAN card necessary for bank account?

The Reserve Bank of India (RBI) has made Aadhaar and PAN cards mandatory for opening bank accounts. The updated circular said Aadhaar and PAN numbers must be quoted for new bank accounts. …

What are the documents required for minor PAN card?

Identity proof to apply PAN card for MinorAadhaar card.Passport.Ration card.Government-issued photo ID card.Driver’s license.Voter ID card.Original Certificate of identity signed by a Member of Parliament/Member of Legislative Assembly or Legislative Council/Gazetted Officer.More items…

Is photo required for PAN card for minor?

For minors, the proof of identity and address of either parent would be required to be submitted. … The signature of the parent would be printed on the PAN Card. Photographs of the minor would also be required. However, the photo of the minor would not appear on the PAN Card.

How much cash can be deposited without pan?

No PAN mandatory for deposit or cash transactions above Rs 50,000, you can use Aadhaar.

Who is eligible for PAN card?

All Indian citizens having the source of income and valid proofs (as prescribed by the Income Tax Department) are eligible to apply for PAN card. Obtaining a PAN card or Permanent Account Number is mandatory for every tax payer or the person who needs to file an income tax return on behalf of self or others.

What minor means?

In law, a minor is a person under a certain age set as the threshold of a privilege, usually the age of majority, which legally demarcates childhood and adolescence from adulthood. The age of majority depends upon jurisdiction and application by country, but it is generally 18.

Is PAN card required for buying gold?

2 Lakh or More. A Permanent Account Number or PAN is a unique 10-digit alphanumeric code used by the Income Tax Department to identify individuals who are earning. PAN is mandatory for anyone who falls under the tax slab.

Can we transfer money without pan?

NEW DELHI: The government has announced a new rule to prevent people from making multiple cash deposits in their bank accounts without quoting the PAN. Till now, the limit for cash deposit without PAN was Rs 50,000 per transaction. A lot of people were depositing less than Rs 50,000 per day to escape the PAN provision.

What documents do I need for PAN card?

Documents Required for PAN Card Application by HUFs and Individuals (Being Citizens of India)Voter’s ID card.Passport.Aadhar card.Ration card having Applicant’s photo.Driving License.Photo ID card which are issued by central government, state government or any undertaking of public sector​More items…•

What is minor PAN card?

A PAN card issued in the name of a minor does not contain the minor’s photograph or signature, and therefore, cannot be used as a valid proof of identity. Once a minor PAN card holder turns 18, the relevant changes must be made in the PAN records. A new card is then issued bearing a photograph and signature.

Can I get PAN card in 2 days?

Usually, after submitting the PAN card, it  takes 15-20 working days to issue a PAN card. But now the Income Tax Department makes a provision to get a PAN card in 2 days.

Can a student get PAN card?

A PAN (Permanent Account Number) card is a non-transferable identity card issued by the NSDL behalf of the Government of India. It is generally adults over the age of 18 years who apply for a PAN card. … However, a PAN card can also be applied for by a student.

How much does a PAN card cost?

The charges for applying for PAN is Rs. 93 (Excluding Goods and Services tax​) for Indian communication address and Rs. 864 (Excluding Goods and Services tax) for foreign communication address. Payment of application fee can be made through credit/debit card, demand draft or net-banking.

Can I apply pan card under 18?

Not many are aware that a Permanent Account Number (PAN) card can be availed even for your children below 18 years. In fact, the Income Tax department allows parents or guardians to apply for a new PAN card for a minor. … According to the Income Tax Act, one of the parents or guardians can apply for a PAN card for minor.