In this article, we will take a closer look at the recently introduced UDIN, its features and its benefitsIn this article, we will take a closer look at the recently introduced UDIN, its features and its benefits
Earning the qualification of a Chartered Accountant is no mean task. It takes years of theoretical and practical training to qualify as a chartered accountant because the responsibility that falls upon a chartered accountant is tremendous from the point of view of the economy. Lets Learn more about UDIN in this blog.
- It is their responsibility to certify every financial statement and every tax return filed for regulatory purposes. Unfortunately there have been numerous instances in the past where certain miscreants forge their signatures to pretend to be professional and accredited Chartered Accountants for petty personal gains. Posing to be Accountants helps them issue certificates, which leads to companies being misled.
- Consequently, the Institute of Chartered Accountants of India developed a technique to mitigate the instances of such forgeries.
- The ICAI has now begun issuing a Unique Document Identification Number, better known as the UDIN, for every document certified by a member chartered accountant. It became operative from October 1st, 2019. It ensures accountability and transparency in the process of regulatory financial certification.
- In this article, we will take a look at the registration, and why the Unique Document Identification Number is so essential.
Unique Document Identification Number
The Unique Document Identification Number, better known as the Identification number, is a unique number that is issued by the Institute of Chartered Accountants (ICAI) and is available through the UDIN portal to its members.
This number is a part of every registered Chartered Accountant-issued certificate, making the certificate more authentic and credible. Every document attested by a professional Chartered Accountant has a number attached to it. The number helps authorise the report, as it means that the certificate was verified by a CA who is a part of the Unique Document Identification number portal.
UDIN Portal And Registration Process
To get access to a Unique Document Identification Number, full-time Chartered Accountants must first register on the Unique Document Identification Number portal. Doing so helps them generate the number for all documents that they authorise and certify. Here’s how to register on the portal.
- First and foremost, go to the official UDIN portal, the link for which has been given below; https://udin.icai.org/?mode=myicai
- Next, click on First-time Users from the homepage.
- Enter your membership ID, date of enrolment with the website, and date of birth.
- Next, click on the Send OTP button.
- Enter the OTP you receive on your registered mobile number/email ID, and click on the ‘Continue’ button.
- Once done, the number portal will automatically send you the required login credentials to your registered Email ID.
How to Generate UDIN for Tax Audit?
The steps to generate a Unique Document Identification Number for tax audit are as follows:
- Visit the Institute of Chartered Accountants’ official website (ICA).
- Log in using the details received on your email address, and you can change the password as needed.
- Click on the “Generate number” option on the screen.
- Fill in the required information, including Membership Registration Number, Name, E-mail Address, Firm Registration Number, Firm Name, Client Reference Code / Number, Document Description and Document Date.
- Provide at least 3 to 5 keywords along with their corresponding values.
| Keywords are words that define specific values mentioned in the document. For example, if you are validating an individual’s sales, one of the keywords might be ‘Sales,’ along with the corresponding sales figure as its value. |
- Enter the OTP received on your email and mobile to verify the details.
- If you need to make any changes, click on “Back.” Otherwise, click on the “Submit” button.
- Keep in mind that once you submit the details, you cannot edit them, so ensure that all the information is accurate.
- After submission, the Unique Document Identification Number will be generated for the tax audit document.
How To Generate UDIN When Needed?
- After registering on the UDIN portal, to generate Unique Document Identification Number when needed, here’s what you need to do;
- Go to the official link of the UDIN portal
- Login to the Unique Document Identification Number portal (https://udin.icai.org/) using your credentials.
- Unique Document Identification Number portal
- From the homepage, click on Generate UDIN.
- Enter details such as name, email ID, Membership number, firm name, and document description.
- After you finish, double-check the data and click on the Send OTP button.
- Next, you will receive an OTP on your registered email ID/mobile number.
- Enter the OTP, recheck the details entered, and then the Unique Document Identification Number will be generated.
UDIN Login and Format
The login happens using the login credentials that the Unique Document Identification Number portal sends you once you register with the portal. You can use these credentials to log in to the portal whenever you require a Unique Document Identification Number, number for any documents. Furthermore, you also have the option to change the password whenever you want to. It is recommended that you do so after logging in for the first time.
- The Unique Document Identification Number is a unique 15-digit alpha-neumeric identity.
- The first six digits refer to the membership number of the Chartered Accountant Services with the ICAI.
- Digits seven through twelve refer to the date of issuance of the certificate. The format of the date is DDMMYY.
- The last three digits serve as a serial number by which the Unique Document Identification Number portal references the document. X-X-X-X-X-X / X-X-X-X-X-X / X-X-X = (Membership Number)/(DDMMYY)/(Serial. Number)
Verification Of Documents Via UDIN Number
Once the Unique Document Identification Number, Number has been generated, all the details and supporting documents regarding the certification have to be submitted as part of the portal operating procedure1. Furthermore, such information with the UDIN cannot have changes or modification. In some instances, after verification, certain aspects can be changed or cancelled. Such situations lead to the original Unique Document Identification Number being revoked, through a function on the website. However, to do so, the concerned professional has to give a valid reason.
Importance Of UDIN
The Unique Document Identification Number is an idea by the ICAI as a means to curb malpractice and misrepresentation by miscreants posing as professional Chartered Accountants. Organisations can check the authenticity and validity of documents submitted and issued by CAs through this system.
Also, as the Unique Document Identification Number generation occurs only through the portal, law enforcers do not have to worry about forging and misrepresentation anymore. Furthermore, the Firm Registration Number, Date of Document, and Reference Code can be used to check the document through the portal.
Conclusion
Understanding and staying abreast with the changes in the regulatory system is a quality that many businesses forsake in the name of technical expertise. However, understanding the changes in the system and being an expert with that change are two different things. A good businessman is always aware of any changes made in the regulatory ecosystem and looks at its effects on his or her business.
They then delegate the exercise of technical understanding and application to the experts if necessary. If you are someone who requires such technical expertise or have any other regulatory queries you wish to understand better, feel free to get in touch with us and we will ensure that you receive the right kind of assistance for your requirements.
FAQs
Whether a Firm can register on UDIN Portal?
No, only Chartered Accountants (CAs) with full-time Certificate of Practice (CoP) can register on the UDIN portal to generate UDIN
Who will generate UDIN for the assignment carried out by Cost Accountant firm?
Only members of the Institute of Chartered Accountants of India having full-time Certificate of Practice can register on the UDIN portal and generate a Unique Document Identification Number. Cost Accountant firms cannot generate UDIN for their assignments
Can a Partner generate UDIN for the Certificate signed by another Partner?
No, only the signing partner can generate UDIN for the certificate signed by them.
What is the procedure to Register on UDIN Portal?
To register on the UDIN portal, visit the official website of the Institute of Chartered Accountants (ICAI) and click on 'Member Registration' on the menu bar. Fill in the required details and follow the instructions to complete the registration process
How can I generate a Unique Document Identification Number (UDIN)?
To generate a Unique Document Identification Number - Register on the UDIN portal Log in Select ‘Generate Unique Document Identification Number’ Provide details like client name, client code, document title, and financial year Choose the appropriate part of the Income Tax Act of 1961 Select 'GST & Tax audit' as the document type Indicate the report's signing date, and Click on the ‘Generate Unique Document Identification Number’ button.
