Article being an proprietor

Articleship 235 views 3 replies

Rahul

student

27 Points Joined December 2013

My friend Pritish is an article. He is doing articleship in Mumbai. Few months before his father was passed away and he was businessman and running a properitory firm and he was the eldest in his siblings and all his siblings are minor.
His mother can't be owner as she is housewife and uneducated. So Pritish got the ownership as he has no other option for changing owner. He don't know about the fact that an article can't engaged in any business. Later he know the fact but he already became the properitor of the business. So now he don't know what to do.. Please suggest him so that he can complete his CA and take care of his business too..

Replies (3)

Hitesh Khanna

Accounting & Finance Taxation Company

839 Points Joined September 2010

Can you please share which level of CA exams he has cleared and whether he has pursued any training or not ?

Dharmesh

Student

1025 Points Joined May 2016

Hi ,

This might help.

https://www.icai.org/post.H T M L?post_id=816

based on this suitably decide..

also take more opinions..for eg his mother being the proprietor and the article may manage the business n articleship..in such a case no permission would be required as on paper the article is neither the owner nor hes managing the business..

speak to the principal also for suggestions.

Rahul

student

27 Points Joined December 2013

He has cleared IPCC and he has completed 1 and half year of articleship..
Can u tell if he do not disclose the fact of being properitor to ICAI, Is ICAI come to know about it?
What should do.. Please suggest