Get Net Worth Certificate for Loan Application with CA Services

A Net Worth Certificate is a document which certifies an individual’s or a company’s total assets and liabilities, thereby determining their net worth. It is required when for applying a loan application in India, especially for businesses or self-employed individuals.

How to Obtain a Net Worth Certificate in India

1. Issuance of Net Worth Certificate by a CA:
   • The certificate must be issued by a qualified professional, such as a Chartered Accountant (CA).
2. Documents required for preparation of CA:
   • Identity proof (Aadhar card, PAN card, etc.)
   • Address proof
   • Financial statements (balance sheets, profit and loss accounts, ITR)
   • Asset details (property documents, bank statements, etc)
   • Liability details (loan documents, outstanding dues)
3. Discuss with CA:
   • Schedule a meeting to discuss your financial situation.
   • Provide all necessary documents for verification.
4. Certificate Preparation:
   • The CA will prepare the Net Worth Certificate based on the provided documents and their assessment.
5. Review and Sign:
   • Review the certificate for accuracy. Once confirmed, the CA will sign and stamp it.
6. Submission:
   • Submit the Net Worth Certificate along with your loan application to the financial institution such as Bank & NBFC.

Key Points to Remember

• Validity: The certificate is typically valid for a certain period (often six months) as required for the financial institution.
• Fee: There may be a fee charged by the CA for preparing the certificate.
• Accuracy: Ensure that all information is accurate and up to date, as discrepancies can lead to loan application rejection.

Conclusion

A Net Worth Certificate is crucial for proving your financial credibility to lenders. Make sure to engage a reputable CA Firm in Delhi and provide comprehensive documentation to facilitate a smooth process.

Taxcellent helps you in providing net worth certificate within a day subject to complete documentation.