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Chartered Accountant Firm

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(Querist)
27 June 2011 Can a chartered accountant own a proprietorship firm as well as a partner in a partnership firm
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CA. Krishna K Neeraj

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CA. Krishna K Neeraj (Expert)
28 June 2011 Yes provided there is no such clause in partnership deed which restricts opening of proprietership firm of a partner
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C A S.S.Agarwal, M.Com.,LL.B,

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C A S.S.Agarwal, M.Com.,LL.B, (Expert)
28 June 2011 In case of a CA. firm all the partners must be C.A. otherwise no partnership can be formed. There are special cases where there is some relaxation.

There is no restriction in become partner in one firm and proprietor of other form. But the disadvantage is that when Bank or government audit is allotted in the name of partnership firm then no audit is allotted in proprietorship firm and vis versa
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