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TMI BlogNow a Chartered Accountant can enter into a Multidisciplinary Partnership FirmX X X X Extracts X X X X X X X X Extracts X X X X ..... Now a Chartered Accountant can enter into a Multidisciplinary Partnership Firm - Commentaries / Editorials Dated:- 2-10-2008 - News - Institute of Chartered Accountants of India has issued a notification no. Na.1-CA(7)/116/2008 dated 25-9-2008 incorporating various amendment to the Chartered Accountants Regulations, 1988. There are 16 amendments to the regulations. One of the major amendm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ents is provisions relating to multidisciplinary partnership firm. These amendments are summarized as under: Earlier vide Chartered Accountants (Amendment) Act, 2006 [w.e.f. 17.11.2006] the provision of First Schedule of the Chartered Accountants Act, 1949 amended and accordingly central government has allowed multidisciplinary partnership firms. It took almost two years to prescribe other q ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ualifications (professionals occupying such qualifications) which are eligible for valid partnership or to share profits / remunerations with a practicing chartered accountant. The qualifications to share profits / remunerations / commission / brokerage etc. [ Regulation 53A] (i) Company Secretary within the meaning of the Company Secretaries Act, 1980; (ii) Cost Accountant within the mean ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing of the Cost and Works Accountants Act, 1959; (iii) Actuary within the meaning of the Actuaries Act, 2006; (iv) Bachelor in Engineering, from a University established by law or an Institution recognised by law; (v) Bachelor in Technology from a University established by law or an Institution recognised by law; (vi) Bachelor in Architecture from a University established by law or an Inst ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... itution recognised by law; (vii) Bachelor in Law from a University established by law or an Institution recognised by law; (viii) Master in Business Administration from Universities established by law or technical institutions recognised by All india Council for Technical Education. Prescribed qualifications of a eligible partner who is not a member of ICAI [ Regulation 53B] (a) Comp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... any Secretary, member, The Institute of Company Secretaries of India, established under the Company Secretaries Act, 1980; (b) Cost Accountant, member, The Institute of Cost and Works Accountants of India established under the Cost and Works Accountants Act, 1959; (c) Advocate, member, Bar Council of India established under the Advocates Act, 1961; (d) Engineer, member, The Institution of En ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gineers, or Engineering from a University established by law or an Institution recognized by law. (e) Architect, member, The Indian Institute of Architects established under the Architects Act, 1972; (f) Actuary, member, The Institute of Actuaries of India, established under the Actuaries Act, 2006. (g) Professional bodies or Institutions outside India whose qualifications relating to accoun ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tancy are recognised by the Council. See: notification no. Na.1-CA(7)/116/2008 dated 25-9-2008 - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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