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Can salaried CA recieve prof. fees besides salary from co?

Charudatta Kulkarni (Asst Manager) (130 Points)

06 May 2008

Can salaried CA recieve prof. fees besides salary from co? if he is given a specific task such as updating Fixed asset register of company, which is a professional work. If company wants to give consideration for that, in what way the company should compensate the Salaried CA?

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7 Replies

SSA JI (Ca Final ) (1970 Points)
Replied 06 May 2008

Yes a salaried ca can received professionl fees besides salary if he done task not under the aggreement of employer and employee

Charudatta Kulkarni (Asst Manager) (130 Points)
Replied 06 May 2008

CA. Dashrath Maheshwari (TaXpert) (15090 Points)
Replied 06 May 2008

1. It depend on the fidelity agreement with current employer

2. He can't do the work where the certificate of practice is required as per law.

3. Professional work can not be done in the competitor of employer organization in any case.

R.V.RAO (SERVICE) (4125 Points)
Replied 06 May 2008

being c.a in SERVICE ,HE CANNOT RAISE A BILL ON THE COMPANY FOR ANY PROFESSIONAL SERVICES,UNLESS HE TAKES ICAI PERMISSION FOR PART TIME PRACTICE.

ASSUMING ICAI PERMITTED HIM FOR PART TIME PRACTICE ( FOR WHICH HE SHOWS PROOF TO THE COMPANY ). IN THAT CASE WHEN HE RAISES A BILL ON THE COMPANY FOR HIS PROF.SERVICES, HE CANNOT INCLUDE SERVICE TAX @ 12.36% UNLESS HE EXCEEDS THE LIMIT OF RS. 10 LAKHS PER ANNUM.HE MAY RAISE A BILL WITHOUT SERV. TAX AND THEN THE CO. APPLIES TDS ON SUCH BILL.

.A BETTER ALTERNATIVE IS TO COMPENSATE HIM THROUGH AN EXGRATIA OR BONUS PAYMENT.

TDS IS ATTRACTED .

r.v.rao