Jasmine KaurJasmine Kaur asked 1 year ago

1. In case of sale of goodwill whether sale is to be effected within one year of death or permission of council is to be obtained within one year of death…. please see the chart given in this regard in study material as the picture is not inserting with this question.        2. Where is the concept of part time cop given in CA act… please explain this concept in detail.. 3. How can a CA holding COP be an employee? Is it because of clause 11 or something else?  4. What does it mean ^it is mandatory to communicate first to previous auditor even if he is auditor in preceding year .? In terms of clause 8 5. On harmonising clause 11of first schedule and clause 4 part 1 of second schedule and council guidelines whether the following conclusion is correct cannot be director in which partner is auditor, cannot be an auditor in which relative partner has substantial interest or they are director, can be a director of relative or partner has substantial interest  

6 Answers
RaviRavi Staff answered 1 year ago

We generally solve queries in 24 hours but, sir was not well so could not solve queries of past few days, but it is expected that today onwards sir will be solving all queries in due time.

RaviRavi Staff answered 1 year ago

Application with all documents to transfer goodwill should be made within one year from date of death of member. So application should be within one year.

RaviRavi Staff answered 1 year ago

Concept of part-time practice is not is CA Act. It is decided by council, see below relevant text.
The Council at its 241st meeting held in March 2004 decided that effective from 1.4.2005, any member in part-time practice (namely, holding certificate of practice and is also engaging himself in any other
business and/or occupation) is not entitled to perform attest function, and that the resolution passed under Regulation 190A.

They have provided list of activities which will attract part time practice — we have given it in our notes and videos with shortcut.

RaviRavi Staff answered 1 year ago

Yes CA holding COP can do job as per clause 11

Job under practicing ca or ca firm without specific permission.
Job under charitable organisation with specific permission.
Job under business  organisation with specific permission. (ca and relatives should not have substantial interest)

RaviRavi Staff answered 1 year ago

tax audit may not be applicable every year, so even if its not applicable we have to communicate to tax auditor who was there before preceding year.

RaviRavi Staff answered 1 year ago

yes interpretation looks all fine

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