chartered accountant and an advocate become partner

raj (Querist) 30 April 2011 This query is : Resolved
Hi
i have a quarry

An advocate become partner with C.A. (both are in practice)

if yes pls tell me which act

Thanks

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Siddharth Jain (Expert) 30 April 2011
No, C A & Advocate can not enter into partnership as advocates are strictly prohibited to enter into partnership with non advocate

Guest (Expert) 01 May 2011
Dear Sidharth,

Please quote section of the relevant law in supprt of your answer for the guidance of the author of the question, as he asked about the Act.

R.Ramachandran (Expert) 01 May 2011
I also participated in this query and given my answer. My answer was just after that of Mr. Siddharth. Even some one else had also answered the query. But I find none of our answers are there. I do not know how this could ever happen. THE ADMINISTRATOR HAS TO LOOK INTO THIS.

I had answered saying that a practising Advocate and a Practising C.A. cannot form a partnership under Partnership Act, 1932.

But, they can form a Limited Liability Partnership under the new enactment LLP Act.

But since the C.A. Act provides that only a C.A. with unlimited liability can sign and certify the balance sheet, it is a moot point, whether a C.A. being a partner in the LL.P. will be able to do so. It is a moot point, and requires further research before final answer could be given.

Sailesh Kumar Shah (Expert) 11 December 2011
As per BCI Rules:-

"An advocate shall not enter into a partnership or any other arrangement for sharing remuneration with any person or legal practitioner who is not an advocate."

So, answer is no.

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