Question ID :
40888
Practicing CA-Sole Proprietorship as well as Partner in a Firm of CAs simultaneously possible?
Hi All, A practicing Chartered Accountant (CA) holding full time certificate of practice (COP) for the past 3 years in his/her individual registered Firm name of the ICAI as Sole Proprietorship, has been approached by a Firm of Chartered Accountants, to be a Partner in their Firm from a prospective date. Question is whether the individual, Sole Proprietorship Firm can also continue to be in existence and at the same time, the Firm can also admit him/her as Partner of their Firm? Is there any restriction in holding Sole Proprietorship Firm Name and Number, post joining the new/existing CA Firm as Partner? Intention is to retain the Sole Proprietorship Name and Style of individual CA as well as be a partner in the CA Firm at the same time. Please clarify. Thank you!
Posted by
CA. RAJESH KUMAR C
on
Oct 29, 2020
Filed Under
MERGER & ACQUISITION
you can have all 3
but in the partnership you will not be treated as full time partner for empanelment purpose, which they may not like
you apply for mef only in 1 name
Posted by
t sankar on
Nov 02, 2020
Answer ID :
80794
you can have all 3
but in the partnership you will not be treated as full time partner for empanelment purpose, which they may not like
you apply for mef only in 1 name
Posted by
t sankar on
Nov 02, 2020