Need A Financial Product › Forums › Tax Savings › Can tax be saved by taking PAN card for minor › Can-tax-be-saved-by-taking-PAN-card-for-minor_REPLY

November 1, 2014 at 3:43 am #48191
Sameer Kapoor
Participant

It is true that people get PAN card for their minor child because for most of the investments, PAN card is necessary even for a minor investor. Coming to tax savings through this ? it is not possible. Whatever an investment on minor’s name earns will be clubbed to the income of the higher earning parent of the minor and the said parent will have to bear tax on it.