Networth Certificate for Joint Owners

A networth certificate for joint owners is an official document which outlines all the assets and liabilities of all the owners. However, it helps in maintaining transparency between its owners. One can get their certificate by consulting with a chartered accountant. This certificate is needed to find out the net worth of joint owners while opening a joint account, purchasing any property in sharing, etc. Read this article to know every requirement to obtain a networth certificate for joint owners. It will guide you in gathering your documents, doing further process, fee requirements, etc.

What is a Networth Certificate for Joint Owners?

A Networth certificate for joint owners is a document required while applying for any joint ownership. It includes each and every single detail of assets and liability of all the owners. Joint Ownership means the ownership of property by two or more people. This certificate outlines all the assets and liability of all the joint owners. It helps owners to know about each other's investments or debts.

This certificate works as a proof between each other maintaining transparency. Bizfoc provides Certificates for Joint Owners within a day at most affordable prices. Get your Networth Certificate fot Joint Owners now.

Documents Required for Networth Certificate for Joint Owners

There are certain documents required for a networth certificate. These documents includes:

• Identity card such as PAN Card, Aadhar Card, or any other
• Address proof such as Passbook, electricity bill, or any other
• Email, Phone Number or any other Contact Information
• For outlining income & expenses Income Statement is required
• For accurate assets & liability Balance Sheet is needed
• Bank statement to ascertain bank balance
• Property Documents for asset verification
• Investment Records for highlighting the current worth of all investment
• To provide a comprehensive account of liability, Loan Documents is needed
• To provide a comprehensive overview of income & tax obligation, Tax Returns is required

Remember Identity card and address proof should be submitted of each family member in case of joint owner.

Fee for Networth Certificate for Joint Owners

The fee for the certificate for joint owners is just ₹2500/-. One can get their certificate by paying this amount and fulfilling other documentation processes. However, this certificate is required for various purposes other than bank loan such as while applying for visa, demat account opening, etc.

Who certifies a Networth Certificate for Joint Owners?

A Networth Certificate for joint owners can be certified by a chartered accountant only. No one other than a chartered accountant can issue a networth certificate for a joint certificate. To get an authentic certificate, you should consult with a genuine organisation. Bizfoc have great reputation in dealing with these certificates.

How to get a Networth Certificate for Joint Owners?

To apply for a Networth Certificate, one need to follow these steps:

• Step 01: Connect with a Chartered Accountant: The very first step is to consult with a chartered accountant who can prepare a certificate for joint owners. Bizfoc has a team of
• Step 02: Documentation: Once you connect with Bizfoc, our CA will assist you in gathering your documents for further processing. They will make sure if all the documents are accurate and up-to-date or not.
• Step 03: Fee Payment and Review: Once you gather all the documents, you need to pay a fee for the certificate, and then our CA will review your application and documents. Remember, there is no external fee other than ₹2500/-
• Step 04: Verification: Once the application is submitted, our CA will prepare and certify your networth certificate upon successful verification. After final verification, you’ll get your certificate for joint owners.

Networth Certificate Format for Joint Owner 

A networth certificate is a document which includes all the assets and liabilities of an individual. It shows the overall financial position of an individual or a company. The format of networth certificate includes the following details: 

• Name of the applicant
• Date (when net worth is calculated)
• Networth Amount
• Place where the meeting is held 
• Name of accounting firm
• Date (When the certificate is certified)
• Asset detail
• Liability detail

Make sure all the information provided by the applicant is valid and appropriate. Incase of any mistake or false information certificate can be canceled. The detailed format of networth certificate is as follow:

NETWORTH CERTIFICATE

TO WHOM SO EVER IT MAY CONCERN

Net Worth Certificate of Name Primary Person__________ (Adhaar Number: __________) along with Parents/Husband as Name of Joint Owner__________ (Adhaar Number: __________) residing at (Complete Adress)__________ as on (date)__________ is ₹ __________ & _______(in words). It is further certified that the computation of Net worth, based on my/ our scrutiny of the books of accounts, records and documents, is true and correct to the best of my / our knowledge and as per information provided to my / our satisfaction.

Detailed Bifurcation of Net worth are as follows:

This Certificate issued on the basis of documents submitted before us. This Certificate is issued for the purpose of ____________.

For Chartered Accountants

Partner Name

Partner Signature

Membership No:

Date:

Place:

UDIN: 

Note: Mention property details of both primary and joint owner along with their name

Schedule A: Movable Assets

Schedule B: Immovable Assets

Schedule C: Liabilities

Why Choose Bizfoc?

Bizfoc supports and guides their client not only during the process but also after getting their certificate. We will guide you throughout the process in gathering documents and ensuring accuracy and compliance. You can consult with our experienced team and they will guide you with every small step to get your certificate for joint owners.

Conclusion

Networth Certificate for joint account required certain documentation. The fee for the certificate for joint owners is ₹2500/-. This is an essential document, one required for multiple purposes. It is needed for joint owners to maintain transparency. To obtain a networth certificate one needs to follow some steps. Bizfoc provides a hassle free procedure to obtain your certificate.