How to Take an Advocate as Partner in CA firm?
This query is : Resolved
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26 August 2021
Dear Sir, We are doing CA practice with two CA partners and now we are planning to take an Advocate as a partner in CA firm..
Request you to guide me the procedure and form to be filed in CA institute.. I have no where found such form to be filed in ssp portal
Request you to guide me the procedure and form to be filed in CA institute.. I have no where found such form to be filed in ssp portal
26 August 2021
You can't take Advocate as partner in CA firm.
26 August 2021
Sir, Recently institute has amended the rules and it is acceptable.. I need the procedure for taking advocate as partner in CA firm
26 August 2021
With the change in form 18, CA firms are now allowed to have partnership with CMAs, CSs, Advocates, Engineer, Architects, others permitted under section 53 B of the CA Regulations.11-Jul-2021
Please check the above
Please check the above
26 August 2021
The Institute of Chartered Accountants of India (ICAI) has recently issued a set of Frequently Asked Questions (FAQs) where the Institute said that the practicing Chartered Accountants cannot enter into a partnership with the Advocates enrolled with the Bar Council of India.
In the FAQ, the Institute said that as per Clause (c) of Regulation 53B of the Regulations, it is permitted to enter into a partnership with Advocate, Member of the Bar Council of India established under the Advocates Act, 1961.
However, as per Rule 2 of Chapter III of Part IV– “Conditions for Right to Practice” of the Bar Council of India Rules, 1975, “An Advocate shall not enter into a partnership of any other arrangement for sharing remuneration with any person or legal Practitioner who is not an Advocate.”
“Hence, unless the Bar Council of India Rules, 1975 are amended, MDP CAs in Practice shall not enter into partnership with an Advocate who is the member of the Bar Council of India,” the ICAI said in a statement.
In the FAQ, the Institute said that as per Clause (c) of Regulation 53B of the Regulations, it is permitted to enter into a partnership with Advocate, Member of the Bar Council of India established under the Advocates Act, 1961.
However, as per Rule 2 of Chapter III of Part IV– “Conditions for Right to Practice” of the Bar Council of India Rules, 1975, “An Advocate shall not enter into a partnership of any other arrangement for sharing remuneration with any person or legal Practitioner who is not an Advocate.”
“Hence, unless the Bar Council of India Rules, 1975 are amended, MDP CAs in Practice shall not enter into partnership with an Advocate who is the member of the Bar Council of India,” the ICAI said in a statement.
27 August 2021
Thank you sir for giving full information
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