Why solvency certificate

Home Services Apply for Solvency Certificate. Print Share Facebook Twitter. Why is it necessary? Go to your concerned District Revenue Officer. A person desirous of obtaining a certificate shall file before a Revenue Officer an application in Form No, 1 affixing court fee stamps of denomination of Rs 3.

The certificate has to be accompanied by an affidavit shown in before a Magistrate incorporating the details of the immovable properties, the income and sources thereof. The Revenue Officer shall initiate a case record. Government Registrations Get various licenses easy and quick.

Buy now. Get Expert Assistance Thank You for sharing your details. Our experts will get in touch with you shortly. How to protect your Intellectual Property? How to get investors for a Startup in India? Get an Expert. Start investing now or. Banks usually ask from its customers for their income tax returns to get an overall picture of their financial status. Properties such as land, building etc are also the assets and should be evaluated to determine the financial stability, the bank might ask for original documents.

To take the property value into consideration, submit the property valuation report prepared by a Chartered Engineer or Bank Panel Valuer. Usually, gold in possession is considered to be valuable security considered by the banks while issuing the solvency certificate.

Banks normally engage their in- house valuers for this purpose. Most banks demand a net worth certificate issued by a certified chartered accountant listing all the assets and liabilities.