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Day tradin by cas

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(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.
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praveen sisodia

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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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