Ca having cop & agent earning commission in insurance co.

clause 11 of first schedule of Chartered Accountant Act,1949 provides a CA in practice is deemed to be guilty of professional misconduct if he engages himself in any business/occupation other than profession of ca unless permitted by council, so to engage. In above case if ca provides only advise than he would receive payment as professional fees not as commission. If co. Pays him as commission it would be amount to business on commission (other than ca profession) . Thus it is advisable to take permission from council to engage in such co. As advisor.