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a CA. can do job as employee as well as continue practise???

unika (ca final student) (124 Points)

07 July 2010

if a ca. wants to be a partner of CA. firm (partly) n do a job in any company?????

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57 Replies

Sagar Zankhariya (Audit Assist.) (278 Points)
Replied 07 July 2010

No, any CA carry on Job in a Company than its not allowed given by our institution rules together with practice with Partnership Firm and

Also not giving practicing Certificate by ICAI

unika (ca final student) (124 Points)
Replied 08 July 2010

but if a CA . carrying a practise now wanting to join a job then his certificate of practise will be cancelled????

Nirav (Accountant) (595 Points)
Replied 08 July 2010

hello,

My cousin is a chatered accountant who is a partner in a firm and also involved himself as a permanent faculty in a leading institute on a salary basis (job). so i think there is no harm in continuing as both.

2 Like

Rahul Gupta (Project Controller ACA MBA(Fin.)) (8014 Points)
Replied 08 July 2010

Agreed with Nir...

A CA can do job as well as can be partner in a partnership frim. He can apply for COP, however his status of COP will be parttime and he is not allowed for certification or attesttation function. Example..myself...

Regards

2 Like

Aditya Maheshwari (CA in Practice) (35867 Points)
Replied 08 July 2010

Agree with rahul gupta

RADHIKA JALAN (agarwal) (1521 Points)
Replied 08 July 2010

agreed with rahul

CA KARTHIK (CHARTERED ACCOUNTANT) (189 Points)
Replied 08 July 2010

MR. RAHUL GUPTHA,

CAN YOU PLEASE GUIDE ME HOW DO GO ABOUT WITH THIS?

I AM A CA AND A FULL TIME EMPLOYEE IN A COMPANY.

MY DAD IS ALSO A PRACTISING CA AND I WANT TO JOIN HIM AS HIS PARTNER.

KINDLY GUIDE ME.

Prateek (B.Com(H) PGDBA CA Final) (436 Points)
Replied 08 July 2010

Can a practicing CA work as an Consultant with Public Ltd Co. on commission

Rahul Gupta (Project Controller ACA MBA(Fin.)) (8014 Points)
Replied 08 July 2010

Originally posted by : CA KARTHIK
	MR. RAHUL GUPTHA, CAN YOU PLEASE GUIDE ME HOW DO GO ABOUT WITH THIS? I AM A CA AND A FULL TIME EMPLOYEE IN A COMPANY. MY DAD IS ALSO A PRACTISING CA AND I WANT TO JOIN HIM AS HIS PARTNER. KINDLY GUIDE ME.

The First step is to apply for COP. After getting the COP just enter as a partner in your father's firm.

For Getting COP, Apply in Form No. 6 with ICAI. In the form you just mention the details of your occupation.
Also in case you have not obtained previously the permission for practice, then application for permission should also be enclosed with the form.

Here is the link for Form 6 and application for permission >

https://icai.org/resource_file/13294form%206_final.pdf

https://icai.org/resource_file/8606onfo_form_appli.doc

1 Like

Rahul Gupta (Project Controller ACA MBA(Fin.)) (8014 Points)
Replied 08 July 2010

Originally posted by : Prateek
	Can a practicing CA work as an Consultant with Public Ltd Co. on commission

You can work as a Consultant, but it will be a professional income for consulatncy not commission. Also, with part Time COP, you can only give consulatancy based on your knowledge and experience. However no certification or any document requiring attestation by a practising CA can be given with part Time COP.

(Guest)

AGREE WITH RAHUL

Deepak Mandowara (Tax_manager) (21 Points)
Replied 08 July 2010

Thanks Rahul for the details...really helpfull

Sachin Jain (Manager- Finance & Accounts) (42 Points)
Replied 08 July 2010

Rahul Gupta

If for part of the FY, a CA was in practice and later joined industry, then what will be the date of filing Income Tax Return for him? also which form will be used for filing the same?

Regards

Sachin Jain

Rahul Gupta (Project Controller ACA MBA(Fin.)) (8014 Points)
Replied 08 July 2010

Originally posted by : Sachin Jain
	Rahul Gupta If for part of the FY, a CA was in practice and later joined industry, then what will be the date of filing Income Tax Return for him? also which form will be used for filing the same? Regards Sachin Jain

Since today, you are in Job so your status will be considered as salaried person. Accordingly your due date of filling will be 31st july (Unless if your profession is above the tax audit limit).

For ITR Form, since your income will include the salary income and Income from Bussiness or profession, So in such case your return will go in ITR IV.