Auditguru Auditguru Frequently Asked Questions(FAQ) Auditguru Auditguru

Soft Copy of Notes will be provided for all our courses till lockdown.
Due to complete lockdown our services will be restricted

 Meet Us Here
Rohit AgrawalRohit Agrawal asked 1 year ago
2 Answers
RaviRavi Staff answered 1 year ago

82 M/s. ABC, a firm of Chartered Accountants received Rs. 2 lakhs in March 2018 from a client to pay the Advance Tax. However, the firm has used that money for its own purpose and later on adjusted the same with the outstanding fee payable. M/s. ABC will be deemed to be guilty of professional misconduct
(a) under clause 10 of Part I of Second Schedule of Chartered Accountants Act, 1949.
(b) under clause 4 of Part II of Second Schedule of Chartered Accountants Act, 1949.
(c) under clause 10 of Part I of First Schedule of Chartered Accountants Act, 1949.
(d) under clause 4 of Part I of Second Schedule of Chartered Accountants Act, 1949.
 
Answer “a” is correct

RaviRavi Staff answered 1 year ago

not depositing in seperate account and using it for personal purpose

Call Back Request