For professionals like Engineers, Doctors, Advocates, Tax Consultants, Chartered Accountants, (etc), we need their professional certification and a license to run a practicing firm.
National Tax Number certificate.
Income tax return oldest at least three years old.
Income tax return latest.
Income tax payment challan of current year.
Sales tax registration certificate.
Sales tax challans of last 12 months.
Bank certificate of business accounts to verify the ownership and existence (status) of the applicant's business.
Any documents like correspondence letter of business or any business documents from which we can verify the ownership and existence of the applicant's business as per bank criteria i.e. 3 years. This document is required in the absence of above said tax related documents or bank certificate.
Sales for the year. For sales verification we extract figures from memorandum records like cash book, sales register (properly maintained) and bill/invoice/receipt books. In case of financial statement we need to verify the whole cycle from trial balance, ledgers,vouchers along with the supporting documents on sample basis.
Purchases for the year. For purchases verification we extract figures from memorandum records like cash book, purchase register (properly maintained) and bills/invoice/receipt books. In case of financial statement we need to verify the whole cycle from trial balance, ledgers, vouchers along with the supporting documents on sample basis.
Business expenses for the years. For business expenses verification we use supporting or source documents like utility bills, tenancy agreement (if any), salary sheet or expenses register maintained properly (etc).
Detail of fixed and current assets along with estimated values.
Detail of personal assets and estimated value.
Bank statement of all bank accounts of last 12 months.
Personal information as per the report like household expenses, number of children, education expenses of children, number of servants and their salary, number of vehicles,(etc).
