Net Worth Certificate in Assam: Format, Documents Required , Benefits, and How to Obtain It

Net Worth Certificate in Assam is a certificate one requires while applying for a loan from a financial institution, as it includes a comprehensive overview of the assets and liabilities. To secure a Net Worth Certificate, specific documentation is required. Bizfoc helps their clients in arranging those documents. Net Worth Certificate is a document which can be issued by only a Chartered Accountant. In this article, you’ll get a complete guide to the Net Worth Certificate format and all other necessary details.

What is a Net Worth Certificate?

A Net Worth Certificate is an official document that showcases the financial status of an individual or business entity. This certificate outlines all the assets and liabilities after analyzing the book of accounts, investment details and other records. To obtain a Net Worth Certificate, you need to assign a qualified chartered accountant who will certify this certificate.

The main role of the certificate lies in gauging the financial health of the applicant. Bizfoc provides a Net Worth Certificate in just one day, certified by a qualified chartered accountant.

Why is a Net Worth Certificate required?

A Net Worth Certificate is required at multiple stages for different purposes. Many financial institutions require this certificate to understand individuals or businesses financial status. Net Worth Certificate is required in the following field:

1. Applying for loan: While applying for loan, banks ask for a Net Worth Certificate as it shows all the assets and liabilities of an individual or an entity.
2. Credit Facilities: While applying for credit, individuals need Net Worth Certificate as it contains total worth signed by a Chartered Accountant.
3. Applying for VISA: Net Worth Certificate is required at the time of applying for a VISA. Students going to study abroad also need this certificate.

Documents Required for the Net Worth Certificate

To obtain a Net Worth Certificate, the following are the documents you require:

• PAN Card, Aadhar Card, or any other identity card
• Passbook, electricity bill, or any other address proof
• Contact Information (Email and Phone Number)
• Income Statement
• Balance Sheet
• Bank statement to ascertain bank balance
• Property Documents
• Investment Records like shares, Mutual Funds, Fixed Deposits etc
• Loan Documentation
• Tax Returns

Net Worth Certificate Fee Structure in Assam

At Bizfoc, we understand the value of money. We provide Net Worth Certificates at the most affordable price compared to others. Get your Net Worth Certificate for just ₹2500/- in just a single day. Net Worth Certificate is required for various purposes, know how to get your Net Worth Certificate within a day.

How to Get Your Net Worth Certificate in Assam Within a Day?

Follow these steps as given below to get your Net Worth Certificate:

Step 01: Connect with a Chartered Accountant

The very first step is to consult with a chartered accountant who can prepare a Net Worth Certificate. Bizfoc has a team of qualified chartered accountants.

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 Net Worth Certificate upon successful verification. After final verification, you’ll get your Net Worth Certificate.

Networth Certificate Format 

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:__________) 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: 

Schedule A: Movable Assets

Schedule B: Immovable Assets

Schedule C: Liabilities

Benefits Of Net Worth Certificate

Net Worth Certificate have certain benefits and they are as follow:

1. Analyzing Creditworthiness: Net Worth Certificate helps in determining borrower’s ability to repay their loan by analyzing creditworthiness.
2. Guarantees Adherence: Net Worth Certificate guarantees commitment to financial regulations as it lends credibility to financial stability.
3. Decision Making: Net Worth Certificate not only helps in loans or credit facilities but also needed in legal proceedings such as bankruptcy, divorce settlement, legacy dispute, and any other legal matter.
4. Investment Decision: Net Worth Certificate is also helpful while making important investment decisions like partnership deals or large investments.
5. Business Purchase: Net Worth Certificate is necessary for business purchase or mergers.
6. Transparency: Net Worth Certificate helps in maintaining transparency and credibility of a company about its financial stability for stakeholders.
7. Immigration Status: Individual or Company’s Net Worth Certificate is required in some countries for Immigration Status.

Why Choose Bizfoc?

Bizfoc offers a seamless solution for obtaining a CA certified Networth Certificate in Assam, simplifying the process for individuals or businesses with their experienced chartered accountant. They will guide you throughout the process in gathering documents and ensuring accuracy and compliance. Not only this they will assist you after the process for post requirements.

Conclusion

Networth Certificate in Assam helps in the process of taking loans, credits, or even a VISA. You can get your certificate from a qualified chartered accountant only. You need identity proof, address proof, contact details, a bank statement, loan details, etc to get your certificate. The fee is ₹2500/- only at Bizfoc for the certificate. Connect with Bizfoc to get your certificate now.

Frequently Asked Questions (FAQs)