Can CA articleship student doing work contract works

As a CA student conducting articleship, having a business in your name can raise some concerns: Tax Implications 1. *Business Income*: You'll need to report the business income in your tax return, which might attract tax liability. 2. *Tax Slab*: As a student, your tax slab might be affected by the business income, potentially increasing your tax liability. CA Firm Concerns 1. *Conflict of Interest*: The CA firm might view your business as a potential conflict of interest, especially if the firm provides services to clients in the same industry. 2. *Professional Ethics*: As a CA student, you're bound by the Institute of Chartered Accountants of India (ICAI) code of ethics. The firm might scrutinize your business activities to ensure compliance with these ethics. Articleship Agreement 1. *Terms and Conditions*: Review your articleship agreement to check if it prohibits or restricts engaging in personal business activities. 2. *Disclosure*: Consider disclosing your business activities to the CA firm to avoid any potential conflicts or issues. Possible Solutions 1. *Seek Guidance*: Consult with your CA firm's management or a senior partner to discuss your situation and potential solutions. 2. *Restructure Business*: If necessary, consider restructuring your business to avoid conflicts or tax implications. 3. *Maintain Transparency*: Ensure transparent financial reporting and maintain separate records for your business and personal finances. To avoid any potential issues, it's essential to be proactive and address these concerns with your CA firm and tax advisor.

in Articleship joined sep 2024, but the business income related to FY 23-24, in this circumstance, please advice