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Practice as a ca

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Querist : Anonymous

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Querist : Anonymous (Querist)
26 October 2013 I want to know what are the advantages and disadvantages of practicing as a CA in individual capacity and in proprietership firm.
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
27 October 2013 disadvantages: you do all the work. The profession has become complex with laws changing everyday. It becomes difficult for an individual to keep pace with the changes. This along with client management becomes issue especially when you are looking to increase the client base.

Advantages: you are your absolute boss. no one to tell you how to things and when to do (except for your clients).

It is advisable that you atleast have one partner. it helps in bringing stability to the practice.

nevertheless, there are many individuals who have excelled in proprietorship. So its no hard and fast rule that you need to have partnership to succeed.
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