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Practicing in proprietary firm and partnership firm together
Last year, I merged my proprietary CA firm into a Parnership firm and became partner & Incharge of a branch of that firm. Now after demerger, can I practice in my proprietary firm and continue to practice as partner as well and incharge of partnership firm branch. What are pros and cons of the same.
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ICAI regulations generally do not permit a Chartered Accountant to simultaneously practice as a sole proprietor and as a partner in a separate firm due to requirements for a single professional identity and accountability. You should consult the latest ICAI Merger and Demerger Guidelines and contact your regional ICAI office for guidance on formalizing your practice structure after a demerger.
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