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September 21, 2023

UDIN: Benefits & Verification for CAs | Unique Document Identification Number

by Admin in Income Tax

UDIN: Benefits & Verification for CAs | Unique Document Identification Number

Introduction :

Chartered Accountants’ (CAs) attestation of documents holds immense value in the financial world. It plays a pivotal role in confirming the accuracy and reliability of various documents, including audit reports that ensure the truth and fairness of financial statements. One significant development in this realm is the introduction of UDIN, which stands for Unique Document Identification Number.

Purpose of UDIN

To combat fraudulent individuals posing as Chartered Accountants, issuing misleading documents. The Institute of Chartered Accountants of India (ICAI) introduced UDIN as a security measure for documents.

♦ What is UDIN?

UDIN is a unique number generated on the UDIN portal for each document attested by a registered Chartered Accountant.

♦ Registration on UDIN Portal

Full-time Practicing Chartered Accountants (CAs with COP) must register to generate UDINs. Steps for registration include providing personal details, receiving OTP, and obtaining login credentials.

♦ Generating UDIN for a Document

After registration, CAs can generate UDINs for their documents. Steps include logging in, entering document details, receiving OTP, verifying details, and generating UDIN.

♦ Format of UDIN

UDIN consists of 15 digits: First 6 digits: Membership Registration Number. Next 6 digits: Date of certificate issuance (DD/MM/YYYY). Last 3 digits: Serial number of the document from the UDIN portal. A UDIN (Unique Document Identification Number) typically consists of 15 alphanumeric characters.

Here’s an example of a UDIN number: X12345/120922/001 In this example: The first six characters “X12345” represent the Membership Registration Number of the Chartered Accountant. The next six characters “120922” represent the date of issuance of the certificate in DD/MM/YYYY format, which in this case is September 12, 2022. The last three characters “001” represent the serial number of the document as generated by the UDIN portal.

UDIN Verification

UDIN helps verify the authenticity of documents issued by Chartered Accountants. Authorities like banks and tax departments can use UDIN for validation. Documents can be located using UDIN, Firm Registration Number (FRN), Client Reference Code, and more via the UDIN portal.

♦ Verification of Documents using UDIN

Once generated, UDIN-linked document details cannot be modified. For changes or cancellations, the UDIN can be revoked through the portal with a reason provided. Revoked UDINs remain on the portal but are marked as “Revoked.”

♦ Benefits of UDIN

Enhances trust and transparency in financial documents. Reduces the risk of fraudulent documents and certifications. Holds CAs accountable for their certified documents. Streamlines document verification processes for authorities and institutions.

♦ Secure and Transparent Document Attestation

UDIN ensures that only valid and authorized documents are accepted by regulatory bodies and stakeholders. CAs are encouraged to comply with UDIN requirements to maintain professional integrity and credibility.

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