A. Certificates which are issued on the basis of financial statements and books of accounts namely:
- Capital contribution certificate
- Gross turnover certificate
- Sundry debtors certificate
- Closing stock certificate
- Statutory liabilities certificate
B. Certificates which forms the basis of statutory records mandatory to be maintained under several laws such as the Companies Act 2013
C. Companies planning for initial public issue needs several certificates.
D. Certificates under the ambit of merger and demerger.
- Fair value certificate for shares
- Buy-back of shares
- Allotment of shares
- Transfer of shares from resident to non-resident and vice versa
E. Fund utilization or Grant utilization certificates are also required by the following clients:
- Non-Governmental organizations
- Statutory bodies
- Autonomous bodies
- Charitable organizations
F. Net worth Certificate. The major purpose of issuing this certificate being:
- For Bank Finances
- For Bank Guarantees
- Issuance for Visa
- Student Study Loan
- Some governmental tenders
G. Section 92 of the Income Tax Act 1961, requires a certification to determine arm’s length price of underlying transaction
H. Form 15 CB is the certification issued under Income Tax Act, 1961 to determine liability of payer to deduct on TDS on payment made to non-residents.
I. Transfer pricing certificate.
J. Deductions claimed under section 80IA, 80IB, 10A or 10B of the Income tax Act 1961 also requires certification to ensure that the concerned person complies with other requirements of statute
K. Claim for refund under GST Act or other Indirect tax laws can be done only after it is certified by a chartered accountan.
L. Exchange Control Legislation requires a certification for imports, ECB, EOU, DGFT, remittances, etc.
M. Privilege and limitation certificates described under different laws and regulations.
N. Certificate for different exemptions under federal tax regulations.