PAN card for kids: Here’s how to apply for Permanent Account Number for your child | Personal Finance News

New Delhi: In India, a Permanent Account Number (PAN) card is one of the most essential documents required for availing of most financial services offered by state or private companies. Most working adults have a PAN card, as it’s required for opening an Employees Provident Fund Organisation (EPFO) account. But did you know that you can also apply for a PAN card for your kids? 

A PAN card is required for opening a bank account, Demat account, taking a loan, buying a property, investing in bonds and other financial facilities offered by the government, among others. The document is also accepted as valid identity proof. 

Parents usually make PAN cards for Kids if they want to include their child as a nominee of their investment. They also apply for Kids Pan cards if they are investing in the name of the child.

Usually, one makes a PAN card once he or she turns 18, as that’s when one opens his or her bank account. However, one can make a PAN card for children below 18. But only the parents of the kid can apply on the behalf of their kids. 

Here’s how to can apply for PAN Card:

Step 1: Visit the official website of National Securities Depositories Ltd.  

Step 2: Enter the required details. 

Step 3: Select the correct category for applying PAN cards for minors. 

Step 4: Pay the PAN card registration fee of Rs 107 and submit the application form. 

One of the most important points to note here is that only parents can apply for a PAN card for their kids. Upon submitting the application, you will get a receipt number using which you can track the PAN card application of your ward. Usually, the PAN card reaches your given address within 15 days of successful verification. 

Here’s the list of documents needed to apply for a PAN card for your kids:  

Firstly, you will need an address and proof of identity of the parents of the minor. You’ll also need to share the address and proof of identity of the applicant. Guardian of the minor can submit Aadhar Card or Ration Card or Passport, Driving License or Voter ID as proof of identity. Also Read: Tesla in ‘Full Self-Driving’ beta mode crashed in California, questions arise over tech

Meanwhile, you can submit an Aadhaar card, post office passbook, property registration document or original residence certificate will have as address proof. Also Read: Go Fashion IPO: Check price band, subscription dates, and future plans

Source by [author_name]

Compare listings

%d bloggers like this: