Audit firm discount policies allowed according to law

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This query is : Resolved

ketan (Querist)

20 October 2012 I want to know what are the proper rules and regulations regarding an Audit firm printing service coupons and selling them to a business for a price and then that business which may or may not be related to tax system offering coupons with its services.

These coupons won't be for statutory Audit.
But they would be for Filing Income tax, tds returns, Book-keeping and such.

So, I want to know what are the rules if a registered C.A firm does that.

And if that is not allowed than Can a firm which doesn't provide statutory Audit Services but provide all other services a C.A can provide will come under those rules as they won't be required to get registration no. from ICAI then.

Also the firm would be owned by a C.A and the Business to which coupons are supplied may be owned by that same C.A or his relative.

Thanks

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)

21 October 2012 This amounts to soliciting work through advertisement and accordingly the CA shall be guilty of professional misconduct under clause 6 of Part I of First Schedule to the CA Act.

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