Business & Finance
Business and Finance
Business and Finance
Wed, November 27, 2024
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How To Get A PAN Card For Your Child: Step-By-Step Guide And Benefits
- Applying for a Minor PAN card is a straightforward process that ensures your child is financially ready for various opportunities
The article from ABP Live outlines the process and benefits of obtaining a Permanent Account Number (PAN) card for a child in India. It explains that while a PAN card is typically associated with adults for tax purposes, there are several advantages to getting one for a minor. The process involves filling out Form 49A, providing the child's details, and submitting necessary documents like the child's birth certificate, proof of address, and the parents' PAN card copies. The application can be made online through the NSDL or UTIITSL websites or offline at PAN service centers. Benefits include early financial education, easier management of investments like mutual funds or fixed deposits in the child's name, and facilitating tax-related matters if the child has income or inherits assets. The article also notes that while a PAN card for a child isn't mandatory, it can be useful for future financial planning and transactions.
Read the Full abp LIVE Article at [ https://news.abplive.com/business/personal-finance/how-to-get-a-pan-card-for-your-child-step-by-step-guide-and-benefits-1734102 ]
Read the Full abp LIVE Article at [ https://news.abplive.com/business/personal-finance/how-to-get-a-pan-card-for-your-child-step-by-step-guide-and-benefits-1734102 ]
