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How to start own practice?

CA BARKHA MITTAL (B.COM, CA) (149 Points)

19 March 2013

How to Start own Practice? What initial steps will be taken in order to start it after getting registered with ICAI? What efforts are required in order to grow business?

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12 Replies

Hanish Chaudhary (Chartered Accountant) (333 Points)
Replied 19 March 2013

It is certainly the great forum started by you. I request the senior members of our institute to guide us in this regard. I also started my practice very recenlty. Your guidance shall be truly be a valuable resource for us.

Hanish Chaudhary (Chartered Accountant) (333 Points)
Replied 19 March 2013

@ Krishna

Thanx! And how to make good contacts.. can u guide me with that also...

1 Like

CA BARKHA MITTAL (B.COM, CA) (149 Points)
Replied 20 March 2013

Hanish, Thank you for your reply. R u practising Individual or in partnership? I am planning for practice so can you guide regarding this? How to make contacts that is the big question?

Hanish Chaudhary (Chartered Accountant) (333 Points)
Replied 20 March 2013

@ CA Barkha Mittal

Yea.. i just started a practising firm individually on a very small level. I started it almost a month ago only. One thing i can tell you, if you really want to start, don't think much, i too just took a small room on rent, bought some furniture and just started it.

I dont know much how to build up the contacts, its just an initial step for me. I am trying to be in touch with maximum people, my friends, colleagues, relatives, professional frnds. In that way, i may not be able to get work so easily and quickly but may be in a long run i will get some benefit out of it. Secondly, where i got the some work in the CA firm where i did my training and even after training i was associates with them for 2.5 years. Infact i served that firm for almost 1 year as a CA also. So there i had good relations with my bosses, so got assignment from them.

So now stop planning and start implementing. Great luck to you.

2 Like

CA BARKHA MITTAL (B.COM, CA) (149 Points)
Replied 21 March 2013

Thnk u so much Hanish for your wishes & guidance.

CA. Kanhaiyalal Gupta (Taxation Incharge) (93 Points)
Replied 21 March 2013

Dear All,

Suppose if any Chartered Accountants is engagged in an employment :-

1) Can he take Certificate of Practice if yes can he partner in any partnership firm ?

What is the benefit if he takes COP along with job

Thanks

CA RUSHABH GANDHI (CA) (212 Points)
Replied 21 March 2013

HIIIIIIII MITTAL...

YOU SHORTLIST IN CAMPUS OR NOT????

WHETHER FINALLY DECIDED TO START TO START PRACTISE????

IF YOU HAVE GOOD EXPOSURE FROM ARTICLE SHIP THEN OFCOURSE U SHOULD START THE PRACTISE...........

I ALSO CLEARED C.A. IN NOV.12 .. PLANNING TO JOIN A C.A. FIRM AT AHMEDABAD

U R FRM AHMEDABAD???

Hanish Chaudhary (Chartered Accountant) (333 Points)
Replied 21 March 2013

@ Kanhaiyalal Gupta

I guess the CA who is in employment, can take only part time COP and not full time COP.

Part time COP holder can provide consultancy services like tax consultancy, direct and indirect taxation return filling and preparation etc... but he cant perform attestation function, so you cant certify any document, you cant perform any tax audit or statutory audit or say bank audit etc.

1 Like

CA. Kanhaiyalal Gupta (Taxation Incharge) (93 Points)
Replied 21 March 2013

Can he become partner of any partnership firm without any signing authority ?

Hanish Chaudhary (Chartered Accountant) (333 Points)
Replied 21 March 2013

@ Kanhaiyalal

Yes a part time COP holder can become a partner in the firm. The only condition is he cannot do any attestation/ signing / certification work and cant go for articles training also.