Certify a non-audit Balance Sheet
This query is : Resolved
17 March 2021
Hi Team,
Please refer the link below which is a part of FAQ's issued by ICAI & which states that a CA cannot certify/True copy ITR, Please clarify whether "ITR" include Balance Sheet & P&L.
Can we certify/true copy a non-audit Balance Sheet & P&L .Also suggest whether UDIN can be generated for the same.
https://www.taxscan.in/cas-are-not-authorized-to-certify-itr-as-true-copy-icai-issues-faqs/40120/
Please refer the link below which is a part of FAQ's issued by ICAI & which states that a CA cannot certify/True copy ITR, Please clarify whether "ITR" include Balance Sheet & P&L.
Can we certify/true copy a non-audit Balance Sheet & P&L .Also suggest whether UDIN can be generated for the same.
https://www.taxscan.in/cas-are-not-authorized-to-certify-itr-as-true-copy-icai-issues-faqs/40120/
18 March 2021
P&L and Balance sheet figures furnished in ITR.
You can't certify unless you audit balance sheet and P&L.
You can't certify unless you audit balance sheet and P&L.
18 March 2021
so a CA can now certify only audited balance Sheets & what about non-audit clients who require CA certification for Bank Loan purposes.
18 March 2021
As per our opinion, one can certify the balance sheet and P/L on the basis of ITRV and ITR form submitted.
The ITR Form contains the details of P/L and Balance Sheet. If any type of certification is required then a CA certificate can be issued that the IT & balance sheet is this. The above figures have been taken on the basis of the ITR forms submitted to us.
The ITR Form contains the details of P/L and Balance Sheet. If any type of certification is required then a CA certificate can be issued that the IT & balance sheet is this. The above figures have been taken on the basis of the ITR forms submitted to us.
18 March 2021
Yet not clear on the fact that whether a CA can certify Balance Sheet of a client whose books are not required to get audited but the banker needs certified true copies of Balance Sheet of the client for Loan purposes, The ICAI recent FAQ's (link below) suggest that a CA cannot certify ITR..
https://www.taxscan.in/cas-are-not-authorized-to-certify-itr-as-true-copy-icai-issues-faqs/40120/
https://www.taxscan.in/cas-are-not-authorized-to-certify-itr-as-true-copy-icai-issues-faqs/40120/
18 March 2021
Check balance sheet and P&L with books of accounts maintained and certify P&L and Balance sheet in agreement with books of accounts maintained.
19 March 2021
Coming back to the ICAI FAQ's issued (link below) it says that CA cannot certify ITR, so shall we conclude that a CA cannot certify incometax Acknowledgement & ITR form (Saral) which are downloaded from the income-tax portal, but can certify Balance Sheet & P&L prepared by the CA
https://www.taxscan.in/cas-are-not-authorized-to-certify-itr-as-true-copy-icai-issues-faqs/40120/
Read more at: https://www.caclubindia.com/experts/details.asp?group_id=2836284
https://www.taxscan.in/cas-are-not-authorized-to-certify-itr-as-true-copy-icai-issues-faqs/40120/
Read more at: https://www.caclubindia.com/experts/details.asp?group_id=2836284
19 March 2021
Yes,CA can certify Balance Sheet & P&L prepared by the CA.
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