One of my CA friend in working oveseas and earning Rs 1.25 lakhs per month . He is now thinking of resigning from the job and start practice in India . Since he was working overseas , he need to recollect and update all subjects now .
Can somebody really advice about the scope of CA Pratice and specially is it advicable for him to leave the job and start practice . The guy is now around 48 years
He has no great connections in India to canvas practice . It has to come alone .
As per your opinion , what are the areas he can concentrate in India if he opt to return back , apart from Practice - He is very interetsed in Share investment and Trading
Your valuble opinions will be of great help to decide on his future
30 September 2010
With no connections and lack of touch with subjects, setting up a practice will be a difficult option (though not impossible). If he is keen to go into practice then, he can join a firm and gain experience 2 to 3 years and then think of practice. He should be able to do it quickly due to his wealth of experience. Alternatively, he can join a currently running medium firm with an objective to become partner within a time frame.
Scope for CA practice is good.
Regarding getting into share trading and investment, I don't think is an option due to his lack of knowledge in that area. Once again starting with someone / partnering would be an option.