The importance of the PAN Card is very similar to that of the Aadhaar Card, it is an essential ID carrying your permanent account number issued by the Income Tax Department. This document is required in every field related to monetary transactions: whether opening a bank account, buying a property or when filing an income tax return. However, there is one misunderstanding about being a PAN Card issued to only those individuals aged above 18 years. But do you know that if a teenager below 18 years decides to open a business then he will need a PAN Card to do so? Under these specific conditions, you can avail a PAN, the information is released by the Income Tax Department.
Documents Required For An Individual Aged Below 18 Years To Get A PAN:
- If parent’s identity cards are given as proof.
- Applicants will also have to provide identity proof which includes, an Aadhaar card, ration card, passport etc.
- As an address proof, you will need to submit either a post office account passbook or bank passbook.
Also read:Know How To Keep Your Aadhaar Card Data Safe
How To Apply for A PAN Card If You Are Not 18 Yet:
- First, visit NSDL’s official website.
- Fill all the blank options asking for the details of the parents of a minor.
- Upload signatures of parents.
- Now you will have to deposit a fee of ₹107 as all the applicants pay.
- After the application process will get complete you will receive a message on your number.
- Around 15 days later you will receive your PAN.
- It is important to know that, after turning 18 this PAN will need to be converted into an adult PAN Card.