Academic Transcripts

No, both transcripts and marksheets are different, and solve different purposes. A marksheet is a consolidated score sheet for a given semester or term or year. Whereas, a transcript is a compilation of all the subjects studied along with their grades and total scores at the end of a study program. While markheets are for a temporary use, transcripts on the other hand are for a long term and expansive use. 

No, marksheets are informal and they can be downloaded from the results portal of the university in question. For applying to universities abroad, applicants will have to submit a more formal document which is stamped and is recognised formally. Thus, marksheets cannot be submitted in place of a transcript for admissions abroad. 

No, provisional cerificate is just a confirmation that the applicants have passed the degree course and are eligible to apply for further studies or jobs or whatever suits the situation. The provisional certificate is more similar to how a degree works and looks like, thus no marks are involved here just the division. Whereas, transcripts are more of a marks list based on each of the subject studied at the UG or PG levels. Hence, they are both different and solve different purposes as well. 

If students are applying to foreign universities for admission, then in maximum cases transcripts would be needed. In case students apply in their final year of study or their final results are yet to be announced then they can submit their marksheets with a promise that they would send their transcripts as soon as they are available to the universities they are applying to. Thus, though both are accepted, but each of them have their own significance.