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Question ID : 44656

Can a proprietor (having proprietor firm) become full time partiner in another CA firm without closi

Good morning, Background: Since Sep 2022, I'm practicing (under my proprietor firm). I'm planning to join as full time partner in another CA Firm (having 3 partners). My questions: Can I become full time partner without closing my existing proprietor firm? Will it be add any advantage to partnership firm in getting Bank /Govt Audits?

Posted by DINESH SURENDRA BHALKIKAR on May 28, 2024

Filed Under MISC.

Answer ID : 85432

Yes. CA can be partner is CA firm and proprietor of his own firm simultaneously. But at least one partner should be fully associated with the firm, otherwise such firm will not be eligible to be empanelled for bank audits. Hence any one partner has to close his proprietorship firm.

Posted by MAYANK A JAIN on May 28, 2024
Answer ID : 85448

You can not be considered as full time partner, whereas can be considered for bank audit purpose subject not to take any advantage in prop firm

Posted by CA JEET REWRI on Jun 17, 2024