Puducherry Solvency Certificate
Puducherry Solvency Certificate
Puducherry solvency certificate is proof of solvency which means that the person’s assets are more than his liabilities. Solvency certificate certifies an individual’s creditworthiness. The Government of Puducherry issues solvency certificate to verify the solvency of a person who undertakes certain works or functions. In this article, we will look at the procedure to obtain a Puducherry solvency certificate in detail.
Benefits of Puducherry Solvency Certificate
Puducherry solvency certificate can be used in many places; some of the essential uses of solvency certificate are given here:
- Puducherry solvency certificate proves the financial stability of an individual or entity
- This certificate indicates one’s history which he has earned with his previous dealings with other financial institutions from where he had earlier availed of loans.
- This certificate helps to get financial support by way of loans from banks or other financial institutions
- The Puducherry solvency certificate authenticates that a person is not a declared insolvent.
- Solvency certificate is usually used to prove financial strength while applying for a visa interview
- Solvency certificate is an essential document for Government departments or other organisations for applying for tenders or similar purposes
- Many companies require solvency certificate for auditing purpose
- This is particularly very useful for students who wish to pursue higher education abroad as most universities need this certificate
- Solvency certificate is mandatory for seeking admission in Government medical or engineering colleges
- This certificate plays a crucial role in court matters like obtaining bails.
- Solvency certificate is needed for submitting to the property sales tax in Puducherry
Note: A bank also issues solvency certificates from bank account transactions and reports obtained from a Chartered Accountant. Know more about Bank Solvency Certificate.
Attributes in Puducherry Solvency Certificate
Solvency certificate contains the detailed particulars of property (movable or immovable property) in addition to this the amount for which the person’s solvent and the assets considered for computing the solvency will be mentioned in Puducherry solvency certificate.
The below-mentioned details will be considered in a Puducherry solvency certificate:
- Aspects of District, Taluk and Village of the property
- Old survey and Subdivision number of the property
- Information regarding the re-survey block
- Resurvey, and subdivision number will be considered for computing the solvency
- Land mutation number
- Class and Extent of land in Hector
- Market value and Fair Value of the property
- Details of Liability Amount
The eligibility criteria to obtain a Puducherry solvency certificate is given here:
- Permanent residence of Puducherry can apply for solvency certificate in the respective Tehsil.
- The person having his or her landed property in Puducherry is entitled to obtain Solvency Certificate
Puducherry solvency certificate will be issued within 30 days from the date of application.
Validity of Puducherry Solvency Certificate
Puducherry solvency certificate is valid for one year from date of issuing.
The Government of Puducherry provides free service for processing the Solvency Certificate.
Revenue and Disaster Management, Government of Puducherry, is the concerned department for the issuance of Puducherry solvency certificate. The applicant requesting for the solvency certificate should apply to the Revenue officer of the concerned Tehsil, which is the competent authority.
Below-mentioned documents must be furnished to apply for Puducherry solvency certificate.
- Ration Card
- Proof of Identify – Voter ID
- Proof of Address – Aadhaar Card
- Proof of ownership of property
- Land Tax
- Extract of Records of Rights
- Encumbrance certificate
- Proof for Income – Income certificate
- Photograph of applicant
Puducherry Solvency Certificate Application Procedure
The applicant can apply for the solvency certificate through three modes as given below:
- Applying directly to the revenue officer
- Online submission of e-form
- Offline submission of e-form
Applying Solvency Certificate through Revenue Officer
Guidelines for applying Puducherry solvency certificate through District Revenue Office is described in detail here.
Step 1: Applicant needs to visit the District Revenue Office to apply for solvency certificate through offline mode.
Submit an Application
Step 2: Applicant has to apply in the prescribed format for the Puducherry solvency certificate. Get the solvency certificate application form from the office and fill duly according to the norms.
Submit all documents to the concerned office along with application form.Puducherry Solvency Certificate Application
Get Acknowledgement Receipt
Step 4: Get an acknowledgement slip with the unique application number for solvency certificate application. Keep it safe for future reference.
Step 5: Once the application for Puducherry solvency certificate has been submitted; the concerned authority will process the solvency application.
Local Enquiry by the Revenue officer
Step 6: To verify the applicant’s immovable properties, and the income from all sources, a local enquiry will be conducted.
Obtain Puducherry Solvency Certificate
After local investigation and the request for solvency certificate has been approved, the concerned revenue officer will issue a solvency certificate. Revisit the relevant office and provide a unique application number. You can collect the Puducherry solvency certificate, and it can be used for the purpose mentioned above.
Applying Puducherry Solvency Certificate through e-Form
E-Form for solvency certificate can be filled online as well as offline. The procedure to obtain a Puducherry solvency certificate is in the step by step procedure.
The applicant must be a registered user of the official website of Government of Puducherry to access the E-form.
Step 1: Access official website of Puducherry Government, in the case of a new user, click on registration, it will redirect to the new page.
Step 2: Provide essential details such as Login details, Personal details, and the area of interest Click on submit. Now applicant can log in to the portal using this registered username (Mail ID) and password.
Login to Portal
Step 3: If you have already registered user, click on the option ‘Citizen Login’ from the home page.
Step 4:The login page appears. Provide a username and password. The page redirects to the e-form application page.
Step 5: Enter the solvency certificate in the search box and click on the search option. The application page will appear.
In offline mode, the applicant can save the details and fetch the data whenever required. The applicant can assign a security key to secure the details entered.
Step 6: Download the Zip file by clicking the Download form.
Step 7: To provide details in the solvency application form in offline mode, unzip the zipped file, and then give the details in the form such as District, General aspect, Address, Parents Address and Land Information.
Note: Application form can be opened by double-clicking on the form.html file.
Step 8: Offline forms can be submitted only when the applicant comes online, and the internet is accessible. After checking all the details, the applicant has to visit the official website and log in to the portal using the login id and password to submit the application form.
Step 6: Click on the upload form for submitting offline e-form.
Online e-form allows the applicant to provide details in the form online at once and submit it after validating it.
Step 6: By clicking on the ‘submit online’ option, you can provide details for e-form. Select the District where you want the application form to be processed. Provide the following information in the application form.
- General information
- Parents Address and Caste
- Land Information
Note: As concerned authority issues solvency certificate in your District jurisdiction, requires to choose the correct District in the field.
Step 9: Upload all required documents for the solvency certificate.
Note: Attachments / Enclosures uploaded by you with the e-form should not exceed a file size of 2 MB.
Transaction ID Generation
Step 10: After providing details and uploading documents in the e-form in either mode, a transaction id will be generated.
Note: Any further communication with Department Authorities regarding the e-form requires the transaction id.
Step 9: Besides, you can print the application form by clicking the print option. After verification, the concerned authority will issue the solvency certificate.
Through SMS, the applicant will receive the Puducherry solvency certificate application status. The applicant can also check application status from the Puducherry Government official webpage.
Enter the solvency application number and click on the search button, solvency certificate application status will be displayed.
Collect Puducherry Solvency Certificate
Once the status is complete, the applicant has to visit the concerned department (revenue officer) along with the required original documents and collect the certificate from the department person.