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Certification and Attestation Services
Overview
Certification and attestation services play a critical role in authenticating the financial, tax, and regulatory standing of a business or individual. Chartered Accountants (CAs) are authorized under various Indian laws to certify documents, declarations, and financial data that are required for statutory compliance, business transactions, regulatory approvals, and loan processing.
Whether it’s for filing returns, applying for government registrations, or securing tenders, certified documents enhance credibility and serve as valid legal proof across departments.
Scope of Certification and Attestation Services
We provide a wide range of certification and attestation services under various statutes, including the Income Tax Act, Companies Act, GST Act, FEMA, Banking regulations, and others. Our offerings include but are not limited to:
1. Net Worth Certification
Required for visa applications, loan approvals, franchise agreements, etc.
Prepared based on audited financial statements and verified assets/liabilities.
2. Turnover Certificate
Essential for tender applications, subsidy claims, or regulatory compliance.
Issued after a thorough review of books of accounts and GST returns.
3. Projected Financials Certification
Includes projected profit and loss statements, balance sheets, and cash flows.
Required for bank loan processing, investment proposals, or business planning.
4. Tax Compliance Certificates
Includes Form 15CB (foreign remittances), Form 10BA (rent payments), etc.
Issued after validating applicable tax deductions and filings.
5. Statutory Compliance Certification
For Companies Act compliance: share capital structure, registered office, board meetings, etc.
For GST: turnover declarations, input tax credit summaries, refund documentation, etc.
6. Certification for Export/Import
Includes certification of inward and outward remittances.
Required under FEMA and DGFT regulations for compliance and licensing.
7. Certification under FEMA & RBI
Capital infusion by foreign entities.
Remittance of profits/dividends outside India.
Annual returns on foreign liabilities and assets (FLA returns).
8. Form 26AS & TDS/TCS Reconciliation Certification
Issued after matching entries in 26AS with books of accounts.
Assures the accuracy of tax credits and prevents mismatches in ITR filing.
9. MSME/Startup/Eligibility Certificates
- For eligibility under government schemes, funding rounds, or industry-specific registrations.
Importance of Certification and Attestation
Required by banks, government departments, embassies, and regulatory bodies.
Enhances trust in the financial health and legal standing of a business or individual.
Forms a basis for decision-making in lending, investing, and regulatory scrutiny.
Reduces chances of notice, penalty, or litigation due to discrepancies in documents.
Mandatory for many government processes including subsidy claims, refund applications, and more.
Legal Backing & Standards
CAs in India are empowered to issue certifications under:
Section 288 of the Income Tax Act
Companies Act, 2013
Goods and Services Tax (GST) regulations
Foreign Exchange Management Act (FEMA)
Institute of Chartered Accountants of India (ICAI) guidelines
All certifications are provided in line with the professional code of conduct, applicable disclosure norms, and documentation requirements.
Frequently Asked Questions
An audit ensures financial transparency, regulatory compliance, and accurate financial reporting. It also helps in risk management and enhances investor confidence.
An internal audit is conducted voluntarily to improve internal controls and operational efficiency, while a statutory audit is legally mandated to ensure compliance with financial regulations.
Businesses and professionals whose turnover or receipts exceed specified thresholds under the Income Tax Act must undergo a tax audit.
Financial statements, bank statements, invoices, ledgers, tax filings, and other relevant financial documents are necessary for a statutory audit.
A stock audit should be conducted at least once a year to reconcile physical stock with accounting records and prevent discrepancies.
GST due diligence is a comprehensive review of a company’s GST compliance, ensuring accuracy in tax filings and adherence to GST laws to avoid penalties.
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