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Income Tax Rule 11UA • FEMA & Companies Act Certified Valuation Report

Business Valuation Certificates

Statutory Business Valuation Certificates for share issuance at premium (Income Tax Rule 11UA / Sec 56(2)(xvi)), FEMA FDI foreign investment compliance, ESOP pricing, and Mergers & Acquisitions by B. Mallesh & Co., Chartered Accountants.

DCF Method
NAV Method
Rule 11UA Tax Certificate
FEMA FDI Valuation

1. Statutory Valuation Purposes

Rule 11UA (Angel Tax Defense u/s 56(2)(xvi))

Valuation of unquoted equity shares issued at premium using Discounted Free Cash Flow (DCF) or Book Value method to justify share price before Income Tax authorities.

FEMA Guidelines (FDI Foreign Inward Remittance)

Mandatory CA valuation certificate under Foreign Exchange Management Act (FEMA) for issue or transfer of shares to non-resident investors.

2. Mandatory Document Checklist

Required Records for Valuation Certificate

  • Audited Financial Statements (Last 3 Years)
  • Management Certified 5-Year Financial Projections
  • Cap Table & Shareholding Structure
  • Term Sheet / Investment Agreement Copy

3. Step-by-Step Valuation Process

1

Step 1: Discount Rate (WACC) & Terminal Value Calculation

Determining Weighted Average Cost of Capital (WACC), Risk Free Rate, Beta coefficient, and cash flow projections.

2

Step 2: CA Certified Valuation Report & UDIN Issuance

Generating formal Valuation Report with ICAI UDIN for submission to Income Tax, RBI, or Registrar of Companies (ROC).

Statutory Disclaimer: B. Mallesh & Co. provides statutory Business Valuation Certificate services under Rule 11UA of the Income Tax Rules, 1962 and ICAI Valuation Standards.
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Mancherial Office Contact

B. Mallesh & Co., Co. Laxmi Theater, Indra Nagar, Mancherial, Telangana - 504208

+91 94405 87360