Q1. How can Regulators / Authorities / Banks / Others verify UDIN?
Ans. For UDIN verification on UDIN Portal, You have to follow the following steps :
- Click on Verify UDIN.
- A window will open for verification and enter the required details. Such as Name of the Authority, Email-id and Mobile Number of the person searching the UDIN.
- The Regulators / Authorities / Banks or others can view the information from the document for which the UDIN is verified.
Q2. Whether a regulator or third party requires to register for verifying UDIN on UDIN portal?
Ans. c the Registration is not required. For verifying the UDIN regulator or third party has to mention UDIN number, email ID, Mobile number and Name of the authorities searching UDIN.
Q3. Which types of third parties or Regulators ask for UDIN?
Ans. All Regulators / Stakeholders like SEBI, CBDT, RBI, CBIC, RERA, MCA, IBA etc. can ask for UDIN as it has become mandatory to generate UDIN by full time practising member vide 379th Council Meeting dated 17th and 18th December 2018. ICAI has also approached various Regulators informing about the UDIN mandate and requested them to insist upon UDIN on all documents certified by CAs.
Q4. How will members be informed when third Party verifies UDIN ?
Ans. Whenever Stakeholders or Third Party verify UDIN on the UDIN Portal, the concerned member would get an SMS alert informing that Third Party has verified UDIN.
Disclaimer – Author has exercised utmost care while writing this article, but still this article may contain some error or mistake and no part of this article/writing should be construed or considered as any advice or consultancy whether professional or otherwise. The contents of this article are solely for information and knowledge.
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About the Author:
Mr. Ankit Agarwal is a Chartered Accountant based in Delhi and the founder of ADA & Co. He has over 7 years of post-qualification work experience, specializing in the field of taxation (Direct & Indirect) practice. He also has knowledge in the full range of financial services including Business, Taxation, Audit and Account. Further, he has managed assignments in respect of GST Audits, Bank Audits, Stock Audits, PSUs Audits, AR & AP Reconciliation etc and represented clients in tax litigative matters before Indian tax authorities. The aim of this article is to enable the professionals in the industry and students & businessmen to be aware with current developments in the Direct and Indirect tax laws and Accounting Practices.