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Day tradin by cas

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This query is : Resolved

kumar (Querist)

19 October 2011 Sir,

Are CAs allowed to engage in day trading of shares OR buying futures and options of shares?

I read the CA Regulations 1988, regarding CAs engaged in other business but found no info regarding Share trading.

Any reply is highly appreciated.

Regards,
Kumar.

praveen sisodia

praveen sisodia (Expert)

19 October 2011 A Chartered Accountant in practice cannot engage in any business or
occupation other than the profession of Chartered Accountancy -
As per terms of Clause (11) of Part I of First Schedule to the CA Act , in general, a
Chartered Accountant in practice is not permitted to engage in any business or
occupation other than the profession of Chartered Accountancy.
However, there are following exceptions to it:-
A Chartered Accountant can be a director of a company (not being a managing director or a whole time director), unless he or any of his partners is interested in such company as an auditor.

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