I have made a SIP with SBIMF in the name of my daughter. The Company informed me that the folio is not KYC compliance, but it showing my PAN and address. My daughter is a minor of 8+ now and the SIP was done with my guardianship.
I have applied with the I/Tax department for issue of a new PAN Card in favour of my minor daughter under my guardianship.
My question is that – if my wife wants to make investment in favour of our daughter under her guardianship then she need to apply for another PAN card for our daughter under her guardianship?
If so then, when our daughter became major then she need to be change the status of old PAN which was issued to her when she was minor. But which one she need to be change as she has given two minor PAN under different guardianship of her mother and father.
Again how it can be possible to issue two PAN to a same minor?
If now she will not given any PAN under the guardianship of my wife then how my wife can invest in the Mutual Fund in the name of our daughter?
Necessary guidance may solicited from the members of this forum.