One of the most rigorous & significant services of professional is the issuance of certificates to its client required for various purposes under different relevant rules & regulation. Broadly, following types of certificates are being needed by the business houses based upon their constitution/ the privileges being be pleased by them under the law, financial arrangement with the financial institution, benefit & deductions to be claimed under statue and periodical compliance of relevant rules & regulation.
Commonly the following types of certificates are needed to carry on business activities in India:
- Certificates on the support of financial books of accounts and annual financial statements.
- Certificates on the grounds of statutory records being maintained under the Indian Companies Act, 2013 and other applicable laws.
- Certification of statutory liabilities.
- Certification of Fare Values of Shares of Company for the scope of merger/de-merger, Buy Back, Allotment of further shares and transfer of shares from resident to a nonresident.
- Certificates for foreign remittance to be made by a resident in India to a foreign entity outside India u/s 195 of the Income Tax Act, 1961.
- Net worth Certificates needed for the purpose of Bank finances, furnishing of Bank guarantee and issuance of Visa by Embassy.
- Certification of arms length price u/s 92 of the Income Tax Act, 1961.
- Utilization certificates of various grants being discharge by Govt. of India to NGO’s, Statutory Bodies, Autonomous Bodies, and charitable organizations.
- Certificates for claiming various deductions & exemption under various rules & regulation.
- Certification under the Income-Tax laws for various deductions, etc.
- Certification for Transfer Pricing.
- Certification under the Indirect Taxes.
- Certification under Exchange Control legislation for imports, remittances, ECB, DGFT, EOU, etc