Auditaudit Staff asked 2 years ago
1 Answers
Auditaudit Staff answered 1 year ago

1. Not checking bank balance with passbook — will be considered as gross negligence under Sch II / Part I / Clause 7 or it can be also covered in Sch II / Part I Clause 8, you can choose to write first clause 7 and then clause 8 at the end.
2. If you don’t reply to icai and its committees etc it will be covered in Sch I / Part III / Clause 2 but if you don’t reply to other authorities it will be covered under other misconduct Sch I / Part IV / Clause 2
3. No prior permission is required under Sch I / Part I / Clause 11 & Under Regulation 190A so not a misconduct
4. Professional Misconduct under Sch II / Part I / Clause 4, not covered in clause directly but covered in a clarification issued by ICAI under clause (4)
5. A person will be disqualified as per income tax act as the limit for indebtedness is zero, Council guidelines say follow limit in act, if there is no limit in the act then follow 10,000

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