InvestorQ : What if a minor is undertaking a transaction that requires PAN details?
Siya Saran made post

What if a minor is undertaking a transaction that requires PAN details?

Answer
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Sadaf Khan answered.
1 year ago


A number of times accounts are opened in the name of minors or children below the age of 18 years. In such cases, the PAN of the parent or guardian can be provided. However, if even the parent or guardian doesn’t have a PAN, then they must fill Form 60. Form 60 is a declaration to be filed by an individual or a person who does not have a permanent account number (PAN) and who wants to open an account or make cash payments. It is a mandatory document required from an individual to carry out financial transactions when the concerned person doesn’t have a PAN Card. Form 60, however, should be supported by a relevant address and identity proof.