Certification work under various laws
One of the most precise & important service of any chartered Accountants is issuance of certificates to its client required for various purposes under different applicable rules & regulation. Broadly, following types of certificates are being needed by the business houses depending upon there constitution / the privileges being enjoyed by them under the law, financial arrangement with the financial institution, benefit & deductions to be claimed under statue and periodical compliance of applicable rules & regulation.
Generally, following types of certificates are needed to carry on business activities in India:
- Certificates on the basis of financial books of accounts and annual financial statements.
- Certificates on the basis of statutory records being maintained under Indian Companies Act, 1956 and other applicable laws.
- Certification of statutory liabilities
- Certification of Fare Values of Shares of Company for the purpose of merger / de-merger, Buy Back , Allotment of further shares and transfer of shares from resident to non resident.
- Certificates for foreign remittance to be made by resident in India to foreign entity outside India u/s 195 of the Income Tax Act,1961
- Net worth Certificates required for the purpose of Bank finances, furnishing of Bank guarantee and issuance of Visa by Embassy.
- Certification of arms length price u/ 92 of the income Tax Act, 1961.
- Utilization certificates of various grants being released by Govt. of India to NGO’s, Statutory Bodies, Autonomous Bodies, charitable organizations.
- Certificates for claiming various deductions & exemption under various rules & regulation.