can practicing chartered accountant become a partner in LLP
This query is : Open
22 July 2010
Hi All,
Can a practicing chartered accountant become a designated partner in LLP which main business is trading and service providing other than professional services. If yes then can anyone suggest me how to approach to institute if it is required permission from ICAI.
Can a practicing chartered accountant become a designated partner in LLP which main business is trading and service providing other than professional services. If yes then can anyone suggest me how to approach to institute if it is required permission from ICAI.
22 July 2010
Not allowed by ICAI.
22 July 2010
but a practicing ca can not become a partner in partnership firm because as per partnership act, all partners have unlimited liability where as in LLP, designated partner's liability is limited as per LLP act. Further, if there is any statement from ICAI that a practicing ca can not become partner in LLP, kindly send me link.
22 July 2010
No Not allowed
22 July 2010
my dear friend LLP is not mandatory.
22 July 2010
I know LLP is not mandatory. I am specifically asking that can any practicing ca become a partner in LLP or not. And if not then can anyone give me link to that guideline or circular issued by ICAI. Second thing, LLP is not purely partnership, its having characteristic of Company as well. Like partner is not agent of LLP so he can come with business with LLP. So any clause applicable to partnership may not be strictly applicable to LLP.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS on Purchase of Immovable Property by NRI from NRI
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Capital gain from sale of house property
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- SFT Cash Deposit in Current Account
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- Annual return in Gst
- FORM 26A APPLICABILITY
- Value of property in capital gain
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
