Table of Contents
Can a practicing CA be a sleeping partner?
You have to seek prior permission of the Institute and if it permits , you can become a sleeping partner.
Can a Chartered Accountant be a partner in two firms?
Yes, a practicing chartered accountant can be partner in more than one CA firms. However, a practicing chartered accountant can not become partner in any business or profession other than a practice. He can also become a director simplicitior but can not act as a managing or whole time director.
Can a Chartered Accountant in practice do business?
The Institute of Chartered accountant of India through its 190A regulation allows members to engage in any act without taking permission from the council. However a Full- Time Salaried Chartered Accountant can do business in his HUF’s as the said clause only applicable on practicing Chartered Accountant.
Can CA in practice become partner in business?
Response: Any person other than those prescribed under Regulation 53B of the Chartered Accountants Regulations, 1988 cannot be a partner in MDP CAs in Practice.
Can a Practising ca be a director?
Can a Practicing CA become a director in a company? Yes.
Can a CA in practice be independent director?
The Ethical Standards Board, at its 115th Meeting held on 23rd April, 2011 after discussions decided that a CA in practice can be a ‘Director Simplicitor’ , which includes an independent director.
Can CA in practice trade in share market?
A chartered accountant in practice has always been allowed to invest or trade in equity shares (and not their derivatives) on a proprietary basis. They cannot do it on behalf of clients as this was not allowed when one is engaged in a CA practice.
Can a practicing Chartered Accountant be a partner in more than one firm?
Yes, a practicing chartered accountant can be partner in more than one CA firms. However, a practicing chartered accountant can not become partner in any business or profession other than a practice. He can also become a director simplicitior but can not act as a managing or whole time director.
Can an articled / audit assistant be a sleeping partner?
There should be no objection to an articled / audit assistant being a sleeping partner in one or more business concerns, if there is a recital in the partnership deed that he is sleeping partner which will constitute prima-facie evidence, unless there is evidence to the contrary. 2.
Can a non-CA partner be a partner in a CA firm?
A practicing Chartered accountant can be a partner in any number of CA firms. However, a Chartered Accountant, who does not hold Certificate of Practice (COP) from ICAI, can be a partner in any number of Non CA partnership firms.
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