Can I get PAN card if I have no income?

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.

Can we make PAN card before 18?

PAN card is a vital document as it is required for any financial transaction. PAN cards are usually obtained after the age of 18, but they can also be made before the age of 18. You can also apply for a PAN card for your child, but you must follow these instructions carefully.

Who are eligible for PAN?

Students can apply for a PAN card as long as they are above 18 years of age. In case you are a minor (younger than 18 years old), your parents can apply for the PAN card on your behalf. There is no maximum age limit for application of PAN card. You can be of any age and still apply for a PAN card.

Can I open bank account without PAN card 2020?

The Reserve Bank of India (RBI) has made Aadhaar and PAN cards mandatory for opening bank accounts. “In case an individual customer who does not have Aadhaar/enrolment number and PAN and desires to open a bank account, banks shall open a ‘small account’,” the circular said.

Can a student get a 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.

Can a minor get PAN card?

As per section 160 of the Income Tax Act, even minors are eligible to apply for the PAN card as there is no age limit requirement specified in the Act. PAN card can be applied for children below 5 years and remain the permanent identity proof irrespective of change in the name or address.

What is the minimum age for PAN card?

18 years
Minors: The minimum age to apply for a PAN card is 18 years. However, parents or guardians of individuals below 18 can also apply for PAN on their behalf.

Why is PAN card needed?

PAN Card is important for taxpayers as it is necessary for all financial transactions and is used to track the inflow and outflow of your money. It is important when paying income tax, receiving tax refunds, and receiving communication from the Income Tax Department. PAN Card also serves as a proof of identity.

What is the minimum age required for getting PAN Card?

How can I get PAN no?

A person wishing to obtain PAN can apply for PAN by submitting the PAN application form (Form 49A/49AA) along with the related documents and prescribed fees at the PAN application center of UTIITSL or NSDL. An online application can also be made from the website of UTIITSL or NSDL.

Do you need a PAN card if you are not earning?

However, it is required by every individual at some point in their life even if they are not earning. Other than being used for filing income tax returns, PAN has several other important uses, even for no earners. Let’s read further to see what PAN card can do for a non-earning individual.

How to get a Permanent Account Number (PAN) number?

PAN Permanent Account Number is can be obtained by any individual or prescribed entity. This your account/identification number with income tax department. All transaction, if any, should be reported on that PAN. Person or entity can have only one PAN and possessing more than one is illegal.

What is the difference between income tax return and PAN card?

While, filing the income tax return, you have to disclose the source of income from salary and While applying for PAN card, the application has to be made in Form 49A.

What are the advantages of having a PAN card for students?

PAN card comes with numerous advantage for the students to get an improved life and also plays a significant role from future prospect. PAN card is issued by the Income Tax Department of India under the supervision of Central Board of Direct Tax.