JayshreeJayshree Staff asked 1 year ago
1 Answers
RaviRavi Staff answered 1 year ago

No, in terms of Clause (11) of Part I of First Schedule to the Chartered Accountants Act, 1949 in general a Chartered Accountant in practice is not permitted to engage himself in any business or occupation other than the profession of Chartered Accountants. However, there are following exceptions to it:-
(i) A Chartered Accountant can be a Director of a Company (not being a Managing Director or Whole-Time Director), unless he or any of his partners is interested in such company as an auditor. [Proviso to Clause (11)]
(ii) A Chartered Accountant in practice may engage in any business or occupation with the permission granted in accordance with a Resolution of the Council. Appendix-9 of the Chartered Accountants Regulations, 1988 contains the above resolutions under two heads (A) permission granted generally and (B) permission to be granted specifically.

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