PAN card eligibility: Age limit, criteria & who can apply?

The Permanent Account Number (PAN) card is a vital identification document issued by the Income Tax Department of India.

Understanding the eligibility requirements for a PAN card is crucial for anyone looking to conduct financial transactions or file tax returns. Whether you're an Indian citizen, a minor, a foreign national, or representing a business entity, knowing the PAN card eligibility age and other criteria will help streamline your application process.

There is no specific age eligibility for PAN card, so even minors can apply through their guardians or parents. The eligibility of PAN card extends to various categories of applicants, each with specific requirements that must be fulfilled for a successful application.

Who can apply for a PAN card?

The eligibility for PAN card is quite inclusive and extends to numerous categories of individuals and entities. Virtually anyone who conducts financial transactions in India or needs to file income tax returns can apply.

There is no specific PAN card age limit, making it accessible to citizens of all ages, including minors. The following categories can apply for a PAN card:

• Individual Indian citizens (including minors).
• Hindu undivided Families (HUFs).
• Companies and businesses registered in India.
• Partnership firms and limited liability partnerships (LLPs).
• Trusts established in India.
• Foreign nationals conducting business in India.
• Non-resident Indians (NRIs).
• Association of persons (AOPs).
• Local authorities and artificial juridical persons.

Eligibility of PAN card for Indian citizens

For Indian citizens, the eligibility for PAN card is straightforward. Any Indian national, regardless of their PAN card eligibility age, can apply for this document. Here's a breakdown of the specific PAN Card eligibility criteria for different categories of Indian citizens:

Individual adults

• Must be an Indian citizen.
• Should possess valid identity proof, address proof, and date of birth documentation/

Minors

• No minimum age for PAN card as per Section 160 of the Income Tax Act.
• Parents or guardians can sign Form 49A on behalf of the minor.
• The minor's Aadhaar number must be quoted in the application form.

Hindu undivided families (HUFs)

• The Karta (head of family) can apply on behalf of the HUF.
• Must provide identity proof, address proof, and date of birth proof.
• An affidavit containing details of all HUF co-parceners is required.

Individuals with mental disabilities

• Can obtain a PAN card if required.
• Applications must be submitted by their legal representatives.

Business entities

• Partnership firms must submit their Registration Certificate or Partnership Deed.
• Companies need to register with the state Registrar of Companies first.
• Trusts must provide their Trust Deed and Registration Certificate.

PAN card eligibility for foreign citizens

Foreign nationals who conduct financial transactions in India or earn taxable income within the country are also eligible to apply for a PAN card. They need to fill out Form 49AA instead of Form 49A, which is used by Indian citizens.

The eligibility of PAN card for foreign citizens includes:

Foreign individuals

• Must provide valid identity proof (passport, PIO/OCI card) for foreign national's PAN Card
• Address proof is required (can be from their home country).
• Date of birth documentation is necessary.

Foreign entities

• Must submit an attested copy of the Registration Certificate from their country of origin.
• Need to provide a copy of the Registration Certificate issued in India or approval from Indian authorities to establish a branch office.

For foreign citizens, acceptable identity proofs include their passport, PIO/OCI card, and TIN/CIN attested by the Indian Embassy or High Commission. Address proofs can include foreign bank statements, Indian NRE account statements, residence certificates, or FRRO registration certificates with an Indian address. There are no age criteria for PAN card for foreign nationals. However, they must comply with the PAN Card rules and requirements.

Documents required for PAN card application

Meeting the eligibility criteria for a PAN card is just the first step. The application process requires specific documentation based on your category. Here's a list of the documents needed for PAN Card:

For Indian citizens

• Completed Form 49A.
• Proof of identity (Aadhaar card, voter ID, passport, Driving Licence).
• Proof of address (utility bills, bank statements, Aadhaar card).
• Proof of date of birth (Birth Certificate, School Leaving Certificate, Aadhaar card)
• Recent passport-sized photographs.

For foreign citizens

• Completed Form 49AA
• Copy of passport or other identity proof
• Address proof (can be from the home country)
• Proof of Indian connection (visa, business registration)

For business entities

• Registration Certificates
• Partnership deeds or company incorporation documents
• Identity and address proof of authorised representatives
• Additional documents based on the type of entity (trust deed for trusts, etc.)

Key benefits of PAN card

Understanding the eligibility for PAN card becomes even more important when you consider its numerous benefits:

1. Essential for filing income tax returns.

2. Serves as a valid proof of identity.

3, Required for opening bank accounts and demat accounts.

4. Necessary for applying for credit cards and loans.

5. Mandatory for property transactions valued at ₹5 lakhs or above.

6. Required for vehicle purchases (except two-wheelers).

7. Needed for cash deposits exceeding ₹50,000 in bank accounts.

8. Mandatory for restaurant payments over ₹25,000.

9. Essential for investments of ₹50,000 or more.

10. Required for high-value jewellery purchases.

With Axis Bank, you can easily update your PAN details in your bank account. This service is crucial for maintaining accurate financial records and ensuring smooth tax compliance. Here are the modes of PAN updates:

• Internet banking
• SMS service
• Mobile app
• Branch visit

Also Read: Link your PAN with Aadhaar before 30 June

Conclusion

Understanding the eligibility for PAN card is essential for anyone looking to engage in financial transactions in India. With no specific PAN card age limit, the document is accessible to citizens of all ages, including minors. The eligibility of PAN card extends to both Indian and foreign citizens, with different documentation requirements for each category. Know the PAN Card application guidelines and apply online.

The PAN card serves as a universal financial identifier and is mandatory for various high-value transactions. Knowing the age eligibility for PAN card and other criteria will help you navigate the application process smoothly.

Whether you're an individual, a business entity, or a foreign national, meeting the eligibility of PAN card requirements is the first step toward obtaining this crucial document. Fulfil the PAN eligiblity for income tax and make financial transactions easier.

Frequently Asked Questions

What is the PAN card eligibility age?

There is no minimum PAN card eligibility age requirement as per Section 160 of the Income Tax Act. Even minors can apply for a PAN card, especially if they are nominees for property or have investments in their names. Parents or guardians can apply on behalf of minors by signing Form 49A and submitting their proofs along with the child's birth certificate. The minor's Aadhaar number must be quoted in the application form.

If a person wants to apply for a new PAN card, is it necessary to destroy the old PAN card?

It is not necessary to destroy the old PAN card when applying for a new one. However, it's important to note that holding multiple valid PAN cards is illegal under the Income Tax Act. If you're applying for a new PAN card due to corrections in personal details or replacement of a damaged card, you should indicate this in your application.
Once you receive the new PAN card with updated information, the old card becomes invalid automatically, but there's no requirement to physically destroy it. Remember that your PAN number remains the same throughout your lifetime, even if the physical card is replaced.

Disclaimer: This article is intended solely for informational purposes. The views expressed in this article are personal. Axis Bank and/or the author shall not be liable for any direct or indirect loss or liability incurred by the reader arising from reliance on the content herein. Readers are advised to consult a qualified financial advisor before making any financial decisions. Axis Bank does not endorse or guarantee the accuracy of any third-party content or links included in this article.