Update Your Minor PAN Card to a Major PAN Card

With the change of time, you are turning 18 or stepping into your adulthood, and managing your finances is essential. Additionally, updating your minor PAN card to a major PAN card (Permanent Account Number) is also mandatory. The PAN card consists of a 10-digit unique account number which helps in various tax purposes. So if you are also turning 18 unveiling independence and responsibility or want to update your minor PAN card to an adult PAN card then this blog belongs to you. In this ultimate guide for your minor PAN car, we will cover various things related to permanent account numbers. Including what is PAN card is, why updating a Minor PAN to adult is important, the benefits of a Minor PAN card, and many more.

Understanding of PAN Card

A PAN card or we can say permanent account number card looks like a debit or credit card but a PAN card is just not a piece of plastic. People can see the 10-digit unique number mentioned on their PAN card which is the key to financial freedom.

A PAN card is issued by the income tax department and it helps the government to track all the financial moves taken by PAN cardholders. It helps people file income tax returns, open a bank account, invest in mutual funds, and many more. So if you have a Minor PAN Card and want to partake in all these things then you need to convert your minor PAN card into a major PAN card. Next, we will learn why it is essential to update your minor PAN card to an adult PAN card.

Why it is Important to Update your Minor PAN card to a Major PAN Card?

If we talk about the minor PAN card then it allows people under the age of 18 to open a bank account or invest in financial instruments under the supervision of their parents. However, after completing the age of 18 your financial responsibilities increase, and converting your minor PAN card to Major PAN card becomes crucial. Updating your PAN card to adult PAN card broadens the range of financial activities including applying for loans, investing without discussing with parents, filing taxes, and many more. Applying for a PAN card for adults is not a typical process can applicants can do it online on their own. So if you want to update your minor PAN card to a Major PAN card then must follow the steps written below.

Step-by-Step Guide to Converting a Minor PAN Card to a Major

• Filling an Application Form: The first step to convert a minor PAN card to a Major PAN card begins with filling out Form 49A. Applicants need to fill out this form to apply for a PAN Card. Candidates can download it from the official NSDL website or collect it from the PAN Service Centers. After getting the PAN card application form applicants just need to fill in some basic details, including name, address, and other personal details, reflecting the transition from minor to adult status.

• Collect all the Supporting Documents: The second step to convert a minor PAN to an adult PAN card after filling the form 49A, is to submit a set of supporting documents which are as follows:

1. Proof of Identity:  To prove your identity you can attach an Aadhaar card, passport, or voter ID. must remember that the document you have submitted should contain the same details you filled in PAN card application form.
   
   
2. Proof of Address: It should be an Aadhaar Card, utility bill, bank statement, or any official document with the applicant's current address.
   
   
3. Date of Birth Proof: In the process of converting a minor PAN card to a major PAN card or filling out a new application for PAN age proof is important. So to prove of date of birth you can attach a birth certificate, school leaving certificate, or any other government-issued document with clearly mentions the date of birth.

• Visiting PAN Service Centers or Using Online Services: After filling out the form 49A and attaching all the essential documents the next step is to submit the form. For this applicants can visit nearby PAN service centers or submit the form online on the NSDL website.

• Document Verification: The next step to apply for a PAN card is the document verification which is done by the PAN card authorities. So, you must try to check all the documents before submitting the form otherwise you have to face delays.

• Biometric Verification: It is one of the essential steps for security concerns and for this applicants need to visit a nearby PAN service center. It includes fingerprint and iris scans to authenticate the applicant’s identity.

• Payment of Fees: When we talk about the fee of a PAN card then it is a part of the application. So to pay the PAN card fees you can choose the online medium and pay the fee through different mediums according to your convenience including various digital payment methods or through a demand draft.

• Issuance of Updated PAN Card: After submitting the PAN card fees you will get a tracking number by which you can check your PAN Card Status Online. Once the application is processed the authorities issue a new PAN card.

Till now we discussed various things related to PAN cards such as benefits, definitions, and many more. Now it's time to check out the benefits of a PAN card.

Benefits of Updating Minor PAN Card to Major

PAN card holders can enjoy various benefits want to know what they are? If yes then this part of the blog is for you. Here we will highlight the advantages of updating a minor PAN card to a major PAN card.

Establishing Financial Identity

There are plenty of benefits to upgrading your PAN card to a major one and establishing financial identity is among them.  It creates your financial identity and enables PAN card holders to take loans, step into a new job, one individual bank account, and more.

Freedom in Financial Transactions

By updating your minor PAN card to an adult PAN card you will get freedom in financial transactions. If you own your major PAN card then you can invest in shares, manage your savings, and many more without any limitations.

Legal Compliance and Documentation Harmony

Once you are identified as an adult, it becomes easier to align your PAN card with other legal documents like Aadhaar and passport. This simplifies the process of document verification required for higher studies, foreign travel, or any legal activities that require proof of age and identity.

Building a Credit Score

The credit score is one of the major things to take loans from the bank and the journey of good credit score starts with the PAN card. All the financial activities done by you on a regular basis are recorded against your PAN and help to create a good profile. A healthy credit score helps you to take loans without facing any issues.

Difference Between Minor PAN Card vs Major PAN Card

There are many differences between a minor and a major PAN card. Knowing them is crucial to every PAN cardholder. No matter if they are below or above 18. By keeping them in mind we will shed light on the major differences between minor PAN cards vs major PAN cards.

When we talk about the difference between a minor PAN card and a major PAN card the functionality of both are same. The major difference between both of them is a minor permanent account number card is issued for citizens under 18 and they can monetary transactions above a certain threshold. Alongside the transaction using minor PAN needs parents or guardian details and concerns. On the other hand, a major PAN card allows PAN cardholders to do transactions independently.

Need Help? Visament is Here for Your PAN Card Queries

By going through this blog on Update Your Minor PAN Card to a Major PAN Card readers will get familiar with different things. Including what is PAN card, its benefits, how to apply for a PAN card, required documents, and many more. So if you also have a minor PAN card or want to convert it into a major one but facing difficulties, then hire Visament. It is one of the greatest immigration service providers who help their valuable clients in filling out PAN card application forms, gathering required documents for PAN cards, and many more.

Along with this, you can also choose this immigration service provider for various services. Including passport, Aadhaar card, overseas citizen of India card, PIO, NRI, and other related services. If you opt for them then you will get low prices, speedy approval, 24*7 client support, mistakes-free applications, and more. So to make your immigration process easier and hassle-free for any related immigration services hire them.