1) Can a CA use credit card and be indebted for amount more than 5,00,000 to Company. 2)What if the amount is repaid on due date?

Questions › Category: CA-Final Prof Ethics › 1) Can a CA use credit card and be indebted for amount more than 5,00,000 to Company. 2)What if the amount is repaid on due date?

0 Vote Up Vote Down

Sarvesh Koushik asked 6 years ago

Question Tags: 20 cases on Prof Ethics and Sec 141

1 Answers

0 Vote Up Vote Down

Ravi Staff answered 6 years ago

as per section 141 auditor indebtedness limit is 5 lakh further commercial transaction in normal course of business is allowed. but as per ca code of ethics auditor can not take any loan from bank.