Minor PAN card - portal login or viewing AIS/TDS

In India, when it comes to managing and tracking income related to minor accounts for tax purposes, there are specific guidelines and limitations. Since the minor's income (such as interest from Fixed Deposits) is generally clubbed with the parent’s income, here are some practical steps to help you access the TDS and AIS information for your son's minor account:

1. Accessing TDS Information and AIS Statements

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  TDS Deduction Tracking: Since banks deduct TDS on interest earned if it exceeds the threshold, you’ll likely see TDS certificates (Form 16A) issued in your son’s name. However, because minors’ PANs can’t directly register on the income tax portal, this information must be accessed indirectly through the bank or under your PAN.
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  AIS and TIS Information for Minors: The Annual Information Statement (AIS) or Taxpayer Information Summary (TIS) is generally not directly accessible for minors. Instead, the minor’s income and tax information are often included in the parent’s AIS/TIS, especially when the income is clubbed with the parent’s.

2. Steps to Ensure TDS and AIS Information is Accessible

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  Linking the Income to Your PAN: Under Indian tax rules, any income earned by a minor (unless they have their own substantial income or specified exemptions apply) is usually clubbed with the income of the parent with the higher income. Therefore, you should:

  • Inform the bank to link the income from the minor's account with your PAN for reporting purposes.
  • This ensures that TDS on interest income from the minor’s FD is reflected in your Form 26AS (the consolidated TDS statement for taxpayers).

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  Form 26AS: Check your own Form 26AS periodically through the Income Tax e-filing portal, as this is where TDS deducted on the minor’s FDs should appear if it's reported under your PAN.

3. Alternative Options to Track the Minor’s Income for Reporting

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  Quarterly Bank Statements and TDS Certificates: Since you may not have access to the income tax portal under the minor’s PAN, collect quarterly bank statements and any Form 16A issued by the bank for your records. This documentation will be useful during tax filing.
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  Manually Record and Report Income in Your ITR: At the time of filing your Income Tax Return (ITR), manually add the interest income from the minor’s FDs to your own income under the “Income from Other Sources” section.

4. In Case of a Larger Investment Plan

• If your plan involves making substantial investments on behalf of the minor, consider consulting a tax advisor who can guide you on tax implications and ways to efficiently track income, especially if the bank does not automatically reflect this income on your Form 26AS.

Hi 

It is practical to obtain Interest certificate from Banks at the end of the financial year. Most banks automatically provide it in customer's netBanking portal.

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