- What is Pan and its importance?
- Can I apply pan card under 18?
- How do I get a pan for a minor?
- What is minor PAN card?
- Can a student apply for PAN card?
- How can a minor apply for a PAN online?
- Why is PAN card mandatory?
- Can we share PAN number to anyone?
- What is the minimum age limit for PAN card?
- Who is eligible for PAN card?
- Is Minor PAN card valid?
- Can I get PAN card in 2 days?
What is Pan 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 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.
How do I get a pan for a minor?
PAN Card for MinorLog on to the website of Tax Information Network website of NSDL and click on the “Online PAN Application”.Select the appropriate option (49 A or 49AA) from the drop-down menu based on the status of your residency.Fill all the required details being requested in the form which appears onscreen.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 a student apply for PAN card?
As PAN card can be possessed by both the adults and minors, PAN card for students can act as an alternative identity proof of the school identification card. Therefore, it is advisable for the students to get a PAN card issued as it is very important from a future point of view.
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).
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.
Can we share PAN number to anyone?
NEW DELHI : The Income Tax department is warning all holders of Permanent Account Number to not share their ten-digit alphanumeric PAN publicly on social media. The tax department says sharing of such personal data can lead to its misuse.
What is the minimum age limit for PAN card?
It is a common misconception among people that Permanent Account Number (PAN) is applicable only for individuals above 18 years of age. However, the Income Tax Department has not mentioned an age limit for availing a PAN card, which means that even minors are eligible to apply for it.
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.
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.
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.