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July 9, 2021

CAs can have partnership with CMAs and CSs

by CA Shivam Jaiswal in Income Tax

CAs can have partnership with CMAs and CSs

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA

NOTIFICATION

New Delhi, the 8th July, 2021

No. 1-CA(7)/197/2021.—Whereas certain draft regulations further to amend the Chartered Accountants Regulations, 1988, were published as required by sub-section (3) of section 30 of the Chartered Accountants Act, 1949 (38 of 1949), in the Gazette of India, Extraordinary, Part III, Section 4, dated the 11th December, 2020, vide notification No.1-CA(7)/197/2020, dated the 10th December, 2020, inviting objections and suggestions from persons likely to be affected thereby, before the expiry of forty- five days from the date on which the copies of the said Gazette containing the said notification was made available to the public;

And whereas the said Gazette was made available to the public on the 11th December, 2020;

And whereas the objections and suggestions received from the public on the said draft regulations have been considered by the Council of the Institute;

Now, therefore, in exercise of the powers conferred by sub-section (1) of section 30 of the aforesaid Act, the Council, with the approval of the Central Government, hereby makes the following regulations further to amend the Chartered Accountants Regulations, 1988, namely:-

  1. (1)  These regulations may be called the Chartered Accountants (Amendment) Regulations, 2021.

(2)  They shall come into force on the date of their publication in the Official Gazette.

2. In the Chartered Accountants Regulations, 1988, in Schedule “A”, for Form 18, the following Form shall be substituted, namely:-

“ FORM „18‟

(See section 2(2) of the Chartered Accountants Act, 1949, regulation 53B and regulation 190 of the Chartered Accountants Regulations, 1988)

PARTICULARS OF OFFICES AND FIRMS

  1. Name of firm/trade name of Chartered Accountant in practice
  2. PAN number and GST Registration number of firm1
  3. Name(s) of the proprietor/partners of firm with his/ their membership number(s)

Details of Partners Holding Certificate of Practice

(Chartered Accountant/Company Secretary/Cost Accountant)

  S.N.Name of PartnerProfessional Qualifications*Membership No.:Whether membership is active (Yes/ No)Date from which Certificate of Practice held:
      

Details of Partners Holding Professional Qualifications Other than Chartered Accountant/Company Secretary/Cost Accountant, permitted as per regulation 53B

S.N.Name of PartnerProfessional Qualifications*Degree No.Name of University/ Institution which issued the Degree
     
  1. (a) Date of formation of proprietary/partnership firm
    • Date on which the present partnership was entered into
    • Whether the partnership is supported by a Deed?
    • Whether all the partners are sharing the profits of the firm?

5. Ref. No; Date and particulars of approval of trade/firm name obtained from the Council (applicable to cases where the firm was started on or after 1.1.1983)

6. Address of the Head Office of the firm/Chartered Accountant in practice.

7. (a) Address(es) of the branch office(s) of the firm/Chartered Accountant in practice, if any

(b) Date on which each branch office was opened

8. Name of the member, with membership number who is incharge of each of the offices, i.e., head office and branch offices.

Head OfficeName of the member in-chargeMembership Number
   
Branch Office(s)Name(s) of the member(s) in-chargeMembership Number(s)
   

9. Whether the proprietor/any partner stated in serial number 3 above is/are partner or proprietor or paid assistant with any other firm(s) of chartered accountants in practice anywhere in India and whether any of them are engaged in a full time or a part-time occupation elsewhere ?

10. If yes, give details in each case

Name of the Partner/proprietor/paid assistantName(s)   of   the firm(s)                              of chartered accountants   with which connectedCapacity in which connectedParticulars of full time or part-time occupation elsewhere if any
    

11. In case of a firm, whether any partner is also practicing in his individual name? YES / NO

12. If yes, give name(s) and membership number(s) of the member(s)

13. Name(s) of the member(s) of the Institute with membership number(s) holding full time employment in the firm/under the chartered accountant in practice and date of joining of each such member.

14. Whether any paid assistant stated at serial number 13 above is partner or proprietor or paid assistant with any other firm(s) or chartered accountant in practice anywhere in India ? YES/ NO

15. If yes, give details:-

Name of the paid assistantName(s) and place(s) of firm(s) in which engaged as partner/ Proprietor/paid AssistantCapacity in which connected with the firm, i.e. as partner/ Proprietor/paid Assistant
   

16. Whether any paid assistant stated at serial number 13 above is practicing?

17. If yes, give name(s) and membership number(s) of the paid assistant(s)

Declaration I/ We hereby confirm that the information given in this Form is true and correct

Place:

Date:

Signature(s) of the proprietor/all partner(s) of the firm with their membership number(s).”

JAI KUMAR BATRA, Acting Secy.

[ADVT.-III/4/Exty./146/2021-22]

Note: The principal regulations were published in the Gazette of India, Extraordinary, dated the 1st June, 1988 vide number 1-CA(7)/134/88 dated 1st June, 1988 and subsequently amended by the following numbers:-

  • Notification No.1-CA(7)/1/89, published in the Gazette of India, dated the 7th October, 1989;
  • Notification No.1-CA(7)/10/90, published in the Gazette of India, dated the 19th January, 1991;
  • Notification No.1-CA(7)/11/90, published in the Gazette of India, dated the 19th January, 1991;
  • Notification No.1-CA(7)/12/91, published in the Gazette of India, dated the 23rd February, 1991;
  • Notification No.1-CA(7)/13/90, published in the Gazette of India, dated the 2nd February, 1991;
  • Notification No.1-CA(7)/19/92, published in the Gazette of India, dated the 7th March, 1992;
  • Notification No.1-CA(7)/28/95, published in the Gazette of India dated the 1st September, 1995;
  • Notification No.1-CA(7)/30/95, published in the Gazette of India, Extraordinary dated the 13th March, 1996;
  • Notification No. 1-CA(7)/31/97, published in the Gazette of India, dated 16th August, 1997;
  • Notification No. 1-CA(7)/44/99, published in the Gazette of India dated the 26th February, 2000;
  • Notification No.1-CA(7)/45/99, published in the Gazette of India, dated the 26th February, 2000;
  • Notification No.1-CA(7)/51/2000, published in the Gazette of India, Extraordinary, dated the 17th August, 2001;
  • Notification No.1-CA(7)/59/2001, published in the Gazette of India, Extraordinary dated the 28th September, 2001;
  • Notification No.1-CA(7)/64/2002, published in the Gazette of India, Extraordinary dated the 31st March, 2003;
  • Notification No.1-CA(7)/64A/2003, published in the Gazette of India, Extraordinary dated the 4th December, 2003;
  • Notification No.1-CA(7)/83/2005, published in the Gazette   of   India,   Extraordinary   dated 28th July, 2005;
  • Notification No.1-CA(7)/84/2005, published in the Gazette of India, dated the 17th June, 2006;
  • Notification No. 1-CA(7)/92/2006, published in the Gazette of India, dated the 13th September, 2006;
  • Notification No. 1-CA(7)/102/2007(E), published in the Gazette of India, dated the 17th August, 2007;
  • Notification No.1-CA(7)/116/2008, published in the Gazette of India, dated the 25th September, 2008;
  • Notification No.1-CA(7)/123/2008, published in the Gazette of India, dated the 3rd December, 2008;
  • Notification No. 1-CA(7)/145/2012, published in the Gazette of India, Extraordinary dated the 1st August, 2012;
  • Notification No. 1-CA(7)/154/2014, published in the Gazette of India, Extraordinary dated the 22nd July, 2014;
  • Notification No. 1-CA(7)/167/2014, published in the Gazette of India, Extraordinary dated the 23rd January, 2015;
  • Notification No.1-CA(7)/178/2016, published in the Gazette of India, Extraordinary dated the 25th May, 2017;
  • Notification No.1-CA(7)/193/2020, published in the Gazette of India, Extraordinary dated the 19th October, 2020.
  • Notification No.1-CA(7)/196/2021, published in the Gazette of India, Extraordinary dated the 23rd June, 2021.

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