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Cop and paid assistant

Nayan (Practicing CA) (32 Points)

29 January 2013

Hello Everybody!

While applying for membership and COP in 'Form 2', i had provided the details of firm of chartered accountant in which i am working as a Paid Assitant. I was alloted the membership and COP, and the status of COP in the ICAI's record is shown as 'FULLTIME'.

I am working in a firm of chartered accountants and also engaged in my own practice.

Will this be considered as Part Time Practice? Can i sign the balance sheet and other documents in the capacity of auditor in my own name?

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2 Replies

CA.CWA.Venkatesh Repala (CA CWA;(CS PROFESSIONAL)) (1231 Points)
Replied 29 January 2013

Yea.. u can...

Working as paid asst. under a CA would amount to acting as a consultant for him.... if and only if ur salary must be subject to TDS undersection 194J.

If ur salary is subject to TDS u/s 192B, then u wil be treated as employee and cannot be able to do attest functions.

So, ensure that ur Salary is not subject to TDS u/s 192B and ur Firm had not enrolled u as an employee with ICAI.

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Nayan (Practicing CA) (32 Points)
Replied 01 February 2013

Thank you Mr. Venkatesh for your inputs.

Are you sure about your view that to be able to do attest functions, paid assistant must not receive salary from a chartered accountant and should receive only professional fees or consultancy charges?