CA Certificate for Current Bank Account : Format

For carrying any business, current bank account in any bank is one of the basic and primary requirement. To open current account in any bank along with furnishing basic details such as PAN, address proof, aadhar card,etc. In some banks you are now required to give CA certificate for current bank account opening. CA certificate gives information about owner of business , nature of business , business start date etc.  In this article we will see about what is CA certificate for current bank account opening?, when it is required?, how to obtain and fees for obtaining certificate,etc.

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What is CA Certificate for Current Bank Account Opening?

Generally CA certificate gives details of breakdown of net assets and liabilities as at particular date. Banks or financial institutes rely upon CA certificate because CA is authorised to give such certification which is trustworthy and verified.CA certificate for current bank account opening refers to authentication by approved Chartered Accountant.It is document by CA to verify identity of person for the purpose of opening current bank account.

This certification is generally required incase of proprietary firms as they dont have any other valid statutory legal document.

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Documents required for of CA Certificate for Current Bank Account Opening:

For obtaining CA certificate for purpose of opening bank account one need to give basic KYC documents and details of assets and liabilities,etc.

1.ID proof such as PAN, Aadhar card, voter ID,etc.

2.Address proof

3.Mobile no and e-mail ID

4.Proof of establishment

5.Address proof of establishment principle place of business

6.Details of all movable & immovable, tangible & intangible property, investments,etc.

7.Details of all liabilities

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Sample format/draft of CA certificate for purpose of opening current account in bank:

Certificate is valid only when it is issued on Letter-head of CA firm with address and contact details.

Sample draft of CA certificate:-

 

<Date>

To,

The Branch Manager,

<Bank Name>

<Branch Name>

 

Dear Sir/Ma’am,

This is to certify that <Name of the business owner> is the Proprietor / Proprietress of <Trade name of the business> having its office at <business address>.

The Concern is engaged in the business of <Nature of Business> since <Date / Year>.

This Certificate in being issued to enable the Proprietary Concern to open a Current account with <Bank Name>, <Branch Name> and the aforesaid facts have been verified by us on the basis of information and facts produced in front of us.

For <Trade name of the business>

Chartered Accountants

 

Name of Chartered Accountant(sign)

Membership No. & FRN No.: (with firm rubber stamp)

UDIN:

 

Date:

Place:

Note: This is an illustrative format. Format can get changed based on requirements of banks or use of certificate and entity status,etc.

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UDIN For CA Certificate for Current Bank Account opening:

Unique Document Identification Number (UDIN) is an 18 digit system generated unique number for every document/certificate issued by a full time Chartered Accountant in practice. It is made mandatory to obtain UDIN for all certificates issued which contain financial information related as true and fair.

Hence, it becomes mandatory to obtain UDIN for CA certificate for purpose of opening current  bank account.

 

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Types of Business who may need CA Certificate for Current Bank Account:

There is no particular law or regulation to prescribe registration of sole proprietary type of business. Person can register firm by using any modes like-

MSME registration

Udyog aadhar

Shops and establishment registration/ Labour License

GST registration

But incase person opted for 1st three modes i.e. MSME, Udyog aadhar or labour license and do not have registration certificate of GST then, he is required to get certificate from CA for the purpose of opening current account in any bank for proprietory type of business. Similarly, many times partnership firms, companies or other types of businesses also needs CA certificate for current bank account opening .

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Conclusion:

Hope you like this Article and gained required information about Chartered Accountant (CA) Certificate for Current Bank Account.However if you have any doubts you can raise query or check out our website to know more about and to Get Chartered Accountant (CA) Certificate for Opening  Current Bank Account.

Frequently Asked Questions:

1.Where can I get CA certificate for current bank account opening?

You can get it from practicing qualified Chartered Accountants. We can also help you and provide CA certificate in easy manner. Order CA Certificate online at your convenience & at most affordable prices.

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2.What is validity of CA certificate for current bank account opening?

By default, the lifetime of a certificate that is issued by a Stand-alone Certificate Authority CA is one year. After one year, the certificate expires and is not trusted for use.

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