The Chartered Accountants Act, 1949

Issued under the provisions of The Chartered Accountants Act, 1949 Chapter I Preliminary 1.0 Short title, commencement, etc. (a) These Guidelines have been issued by the Council of the Institute of Chartered Accountants of India under the provisions of The Chartered Accountants Act, 1949, as amended by The Chartered Accountants (Amendment) Act 2006, in supersession of the Notifications issued by the Council under erstwhile Clause (ii) of Part II of the Second Schedule to the Chartered Accountants Act, 1949. (b) These Guidelines be called the ’Council General Guidelines, 2008′. 1.1 Definitions 1.1.1 For the purpose of these Guidelines: (a) ‘Act’ means the Chartered Accountants Act, 1949. (b) “Chartered accountant ”means a person who is a member of the Institute. (c) “Council ”means the Council of the Institute constituted under Section 9 of the Act. (d) “Institute ”means the Institute of Chartered Accountants of India constituted under the Act. 1.1.2 All other words and expressions used but not defined herein have the same meaning as assigned to them within the Chartered Accountants Act, 1949 and the Rules, Regulations and Guidelines made thereunder. 1.2 Applicability of the Guidelines These guidelines shall be applicable to all the Members of the Institute whether in practice or not wherever the context so requires. Chapter II Conduct of a Member being an employee 2.0A member of the Institute who is an employee shall exercise due diligence and shall not be grossly negligent in the conduct of his duties. Chapter III Appointment of a Member as Cost auditor 3.0A member of the Institute shall not accept:- (i) The appointment as Cost auditor of a Company under Section 233B of the Companies Act, 1956 while he- (a) is an auditor of the Company appointed under Section 224 of the Companies Act or (b) is an officer or employee of the Company; or (c) is a partner, of any employee or officer of the Company; or (d) is a partner or is in the employment of the Company’s auditor appointed under Section 224 of the Companies Act, 1956; or (e) is indebted to the Company for an amount exceeding one thousand rupees, or has given any guarantee or provided any security in connection with the indebtedness of any third person to the Company for an amount exceeding one thousand rupees; or (ii) After his appointment as Cost Auditor, he becomes subject to any of the disabilities stated in items (i) (a) to (e) above and continues to function as a cost auditor thereafter. 3.1 A member of the Institute in practice shall not accept the appointment as auditor of a Company under Section 224 of the Companies Act, 1956, while he is an employee of the cost auditor of the Company appointed under Section 233B of the Companies Act, 1956. Chapter IV Opinion on financial statements when there is substantial interest 4.0A member of the Institute shall not express his opinion on financial statements of any business or enterprise in which one or more persons who are his “relatives ”within the meaning of Section 6 of the Companies Act, 1956 have, either by themselves or in conjunction with such member, a substantial interest in the said business or enterprise. Explanation –For this purpose and for the purpose of compliance of Clause (4) of Part I of the Second Schedule to the Chartered Accountants Act, 1949, the expression “substantial interest ”shall have the same meaning as is assigned thereto under Appendix (9) to the Chartered Accountants Regulations, 1988. Chapter V Maintenance of books of accounts 5.0A member of the Institute in practice or the firm of Chartered Accountants of which he is a partner, shall maintain and keep in respect of his / its professional practice, proper books of account including the following:- (i) a Cash Book; (ii) a Ledger. Chapter VI Tax Audit assignments under Section 44 AB of the Income-tax Act, 1961 6.0A member of the Institute in practice shall not accept, in a financial year, more than the “specified number of tax audit assignments ”under Section 44AB of the Income-tax Act, 1961. Provided that in the case of a firm of Chartered Accountants in practice, the “specified number of tax audit assignments ”shall be construed as the specified number of tax audit assignments for every partner of the firm. Provided further that where any partner of the firm is also a partner of any other firm or firms of Chartered Accountants in practice, the number of tax audit assignments which may be taken for all the firms together in relation to such partner shall not exceed the “specified number of tax audit assignments ”in the aggregate. Provided further that where any partner of a firm of Chartered Accountants in practice accepts one or more tax audit assignments in his individual capacity, the total number of such assignments which may be accepted by him shall not exceed the “specified number of tax audit assignments ”in the aggregate. 6.1 Explanation – For the above purpose, “the specified number of tax audit assignments ”means – (a) in the case of a Chartered Accountant in practice or a proprietary firm of Chartered Accountant, 45 tax audit assignments, in a financial year, whether in respect of corporate or non-corporate assesses. (b) in the case of firm of Chartered Accountants in practice, 45 tax audit assignments per partner in the firm, in a financial year, whether in respect of corporate or non-corporate assesses. 6.1.1 In computing the “specified number of tax audit assignments ”each year’s audit would be taken as a separate assignment. 6.1.2 In computing the “specified number of tax audit assignments”, the number of such assignments, which he or any partner of his firm has accepted whether singly or in combination with any other Chartered Accountant in practice or firm of such Chartered Accountants, shall be taken into account. 6.1.3 The audit of the head office and branch offices of a concern shall be regarded as one tax audit assignment. 6.1.4 The audit of one or more branches of the same concern by one Chartered Accountant in practice shall be construed as only one tax audit assignment. 6.1.5 A Chartered Accountant being a part time practicing partner of a firm shall not be taken into account for the purpose of reckoning the tax audit assignments of the firm. 6.1.6 A Chartered Accountant in practice shall maintain a record of the tax audit assignments accepted by him in each financial year in the format as may be prescribed by the Council. Chapter VII Appointment of an Auditor in case of non-payment of undisputed fees 7.0A member of the Institute in practice shall not accept the appointment as auditor of an entity in case the undisputed audit fee of another Chartered Accountant for carrying

Issued pursuant to Clause (7) of Part I of the First Schedule to the Chartered Accountants Act, 1949 The Members may advertise through a write up setting out their particulars or of their firms and services provided by them subject to the following Guidelines and must be presented in such a manner as to maintain the profession’s good reputation, dignity and its ability to serve the public interest. 1. The Member(s)/Firm(s) should ensure that the contents of the Write up are true to the best of their knowledge and belief and are in conformity with these Guidelines and be aware that the Institute of Chartered Accountants of India does not own any responsibility whatsoever for such contents or claims by the Writer Member(s) / Firm(s). 2. Definitions For the purpose of these Guidelines: (i) The “Act ”means The Chartered Accountants Act, 1949. (ii) “Institute ”means the Institute of Chartered Accountants of India. (iii) “write up ”means the writing of particulars according to the information given in the Guidelines setting out services rendered by the Members or firms and any writing or display of the particulars of the Member(s) in practice or of firm(s) issued, circulated or published by way of print or electronic mode or otherwise including in newspapers, journals, magazines and websites (in Push as well in Pull mode) in accordance with the Guidelines. (The terms not defined herein have the same meaning as assigned to them in the Chartered Accountants Act, 1949 and the Rules, Regulations and Guidelines made thereunder.) 3. The write-up may include only the following information: (A) For Members (i) Name Chartered Accountant (ii) Membership No. with Institute (iii) Age (iv) Date of becoming ACA (v) Date of becoming FCA (vi) Date from which COP held (vii) Recognized qualifications (viii) Languages known (ix) Telephone/Mobile/Fax No. (x) Professional Address (xi) Web (xii) E-mail (xiii) C A Logo (xiv) Passport size photograph (xv) Details of Employees (Nos. – ) (a) Chartered Accountants – (b) Other Professionals – (c) Articles/Audit Assistants (d) Other Employees (xvi) Names of the employees and their particulars on the lines allowed for a member as stated above. (xvii) Services provided (a) ………….. (b) ………….. (c) ………….. (B) For Firms (i) Name of the firm Chartered Accountants (ii) firm Registration No. with Institute (iii) Year of establishment. (iv) Professional Address(s) (v) Working Hours (vi) Tel. No(s)/Mobile No./Fax No(s) (vii) Web address (viii) E-mail (ix) No. of partners (x) Name of the proprietor/partners and their particulars on the lines allowed for a member as stated above including passport size photograph. (xi) C A Logo (xii) Details of Employees (Nos. – ) (a) Chartered Accountants – (b) Other professionals – (c) Articles/Audit Assistants (d) Other employees (xiii) Names of the employees of the firm and their particulars on the lines allowed for a member as stated above. (xiv) Services provided: (a) …………… (b) …………… (c) …………… The write-up may have the Signature, Name of the Member/ Name of the Partner signing on behalf of the firm, Place and Date. 4. Other Conditions (i) The write-up should not be false or misleading and bring the profession into disrepute. (ii) The write-up should not claim superiority over any other Member(s)/Firm(s). (iii) The write-up should not be indecent, sensational or otherwise of such nature which may likely to bring the profession into disrepute. (iv) The write-up should not contain testimonials or endorsements concerning Member(s). (v) The write-up should not contain any other representation(s) that may like to cause a person to misunderstand and/or to be deceived. (vi) The write-up should not violate the provisions of the ’Act’, Rules made thereunder and ’The Chartered Accountants Regulations,1988′. (vii) The write-up should not include the names of the clients (both past and present) (viii) The write-up should not be of font size exceeding 14. (ix) The write-up should not contain any information other than stated in Para 3 hereinabove. (x) The write-up should not contain any information about achievements/award or any other position held. (xi) The particulars of information required at para (ii) of 3(A) and para (ii) of 3(B) above is mandatory. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax Audit | Nidhi Company Registration| LLP Registration | Accounting in India | NGO Registration | NGO Audit | ESG | BRSR | Private Security Agency | Udyam Registration | Trademark Registration | Copyright Registration | Patent Registration | Import Export Code | Forensic Accounting and Fraud Detection | Section 8 Company | Foreign Company | 80G and 12A Certificate | FCRA Registration |DGGI Cases | Scrutiny Cases | Income Escapement Cases | Search & Seizure | CIT Appeal | ITAT Appeal | Auditors | Internal Audit | Financial Audit | Process Audit | IEC Code | CA Certification | Income Tax Penalty Notice u/s 271(1)(c) | Income Tax Notice u/s 142(1) | Income Tax Notice u/s 144 |Income Tax Notice u/s 148 | Income Tax Demand Notice | Psara License | FCRA Online Company Registration Services in major cities of India Company Registration in Jaipur | Company Registration in Delhi | Company Registration in Pune | Company Registration in Hyderabad | Company Registration in Bangalore | Company Registration in Chennai | Company Registration in Kolkata | Company Registration in Mumbai | Company Registration in India | Company Registration in Gurgaon | Company Registration in Noida  Complete CA Services CA in Delhi | CA in Gurgaon | CA in Noida | CA in Jaipur | CA Firm in India RERA Services RERA Rajasthan | RERA Haryana | RERA Delhi | UP RERA

Published in Part III Section 4 of the Gazette of India dated 19th October, 2002 30th September, 2002 No. 1-CA(7)/67/2002.– In exercise of the powers conferred by clause (ii) of Part II of the Second Schedule to the Chartered Accountants Act, 1949, the Council of the Institute of Chartered Accountants of India hereby notifies that a member of the Institute in practice shall be deemed to be guilty of professional misconduct, if he does not follow the direction given, by the Council or an appropriate Committee or on behalf of any of them, to the incoming auditors not to accept the appointment as auditors, in the case of unjustified removal of the earlier auditors. Dr. Ashok Haldia Secretary Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax Audit | Nidhi Company Registration| LLP Registration | Accounting in India | NGO Registration | NGO Audit | ESG | BRSR | Private Security Agency | Udyam Registration | Trademark Registration | Copyright Registration | Patent Registration | Import Export Code | Forensic Accounting and Fraud Detection | Section 8 Company | Foreign Company | 80G and 12A Certificate | FCRA Registration |DGGI Cases | Scrutiny Cases | Income Escapement Cases | Search & Seizure | CIT Appeal | ITAT Appeal | Auditors | Internal Audit | Financial Audit | Process Audit | IEC Code | CA Certification | Income Tax Penalty Notice u/s 271(1)(c) | Income Tax Notice u/s 142(1) | Income Tax Notice u/s 144 |Income Tax Notice u/s 148 | Income Tax Demand Notice | Psara License | FCRA Online Company Registration Services in major cities of India Company Registration in Jaipur | Company Registration in Delhi | Company Registration in Pune | Company Registration in Hyderabad | Company Registration in Bangalore | Company Registration in Chennai | Company Registration in Kolkata | Company Registration in Mumbai | Company Registration in India | Company Registration in Gurgaon | Company Registration in Noida  Complete CA Services CA in Delhi | CA in Gurgaon | CA in Noida | CA in Jaipur | CA Firm in India RERA Services RERA Rajasthan | RERA Haryana | RERA Delhi | UP RERA

Published in Part III Section 4 of the Gazette of India dated 7th September, 2002 2nd August, 2002 No. 1-CA(7)/63/2002.– In exercise of the powers conferred by clause (ii) of Part II of the Second Schedule to the Chartered Accountants Act, 1949, the Council of the Institute of Chartered Accountants of India hereby specifies that a member of the Institute shall be deemed to be guilty of professional misconduct if he accepts appointment as auditor of a concern while he is indebted to the concern or has given any guarantee or provided any security in connection with the indebtedness of any third person to the concern, for limits fixed in the statute and in other cases for amount exceeding Rs. 10,000/-. Explanation – (1) For the above purpose, the term ’auditor’ does not include internal auditor, concurrent auditor or an auditor giving report to the Management. (2) For the above purpose, the limit of Rs. 10,000/- shall be the aggregate amount in respect of the proprietor and/or the partner/s of the firm of chartered accountants. (DR. Ashok Haldia) Secretary [The Notification given in Appendix No. (32) was in operation until issuance of Council General Guidelines, 2008 – No. 1-CA(7)/02/2008 dated 8th August, 2008, given at Appendix No. (34)] Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax Audit | Nidhi Company Registration| LLP Registration | Accounting in India | NGO Registration | NGO Audit | ESG | BRSR | Private Security Agency | Udyam Registration | Trademark Registration | Copyright Registration | Patent Registration | Import Export Code | Forensic Accounting and Fraud Detection | Section 8 Company | Foreign Company | 80G and 12A Certificate | FCRA Registration |DGGI Cases | Scrutiny Cases | Income Escapement Cases | Search & Seizure | CIT Appeal | ITAT Appeal | Auditors | Internal Audit | Financial Audit | Process Audit | IEC Code | CA Certification | Income Tax Penalty Notice u/s 271(1)(c) | Income Tax Notice u/s 142(1) | Income Tax Notice u/s 144 |Income Tax Notice u/s 148 | Income Tax Demand Notice | Psara License | FCRA Online Company Registration Services in major cities of India Company Registration in Jaipur | Company Registration in Delhi | Company Registration in Pune | Company Registration in Hyderabad | Company Registration in Bangalore | Company Registration in Chennai | Company Registration in Kolkata | Company Registration in Mumbai | Company Registration in India | Company Registration in Gurgaon | Company Registration in Noida  Complete CA Services CA in Delhi | CA in Gurgaon | CA in Noida | CA in Jaipur | CA Firm in India RERA Services RERA Rajasthan | RERA Haryana | RERA Delhi | UP RERA

Published in Part III Section 4 of the Gazette of India dated 23rd March, 2002 8th March, 2002 No. 1-CA(7)/60/2002.– In exercise of the powers conferred by clause (ii) of Part II of the Second Schedule to the Chartered Accountants Act, 1949, the Council of the Institute of Chartered Accountants of India hereby specifies that a member of the Institute in practice shall be deemed to be guilty of professional misconduct, if he accepts the appointment as statutory auditor of Public Sector Undertaking(s)/Government Company(ies)/Listed Company(ies) and other Public Company(ies) having turnover of Rs.50 crores or more in a year and accepts any other work(s) or assignment(s) or service(s) in regard to the same Undertaking(s)/Company(ies) on a remuneration which in total exceeds the fee payable for carrying out the statutory audit of the same Undertaking/company. Provided that in case appointing authority(ies)/regulatory body(ies) specify(ies) more stringent condition(s)/restriction(s), the same shall apply instead of the conditions/restrictions specified in this Notification. Explanation – 1. The above restrictions shall apply in respect of fees for other work(s) or service(s) or assignment(s) payable to the statutory auditors and their associate concern(s) put together; 2. For the above purpose, (i) the term “other work(s) ”or “service(s) ”or “assignment(s) ”shall include Management Consultancy and all other professional services permitted by the Council pursuant to Section 2(2)(iv) of the Chartered Accountants Act, 1949 but shall not include:- (i) audit under any other statute; (ii) certification work required to be done by the statutory auditors; and (iii) any representation before an authority; (ii) the term “associate concern ”means any corporate body or partnership firm which renders the Management Consultancy and all other professional services permitted by the Council wherein the proprietor and/or partner(s) of the statutory auditor firm and/or their “relative(s) ”is/are Director/s or partner/s and/or jointly or severally hold “substantial interest ”in the said corporate body or partnership; (iii) the term “relative ”and “substantial interest ”shall have the same meaning as are assigned under Appendix (10) [Now Appendix (9)] to the Chartered Accountants Regulations, 1988. 3. In regard to taking up other work(s) or service(s) or assignment(s) of the undertaking/company referred to above, it shall be open to such associate concern or corporate body to render such work(s) or service(s) or assignment(s) so long as aggregate remuneration for such other work(s) or service(s) or assignment(s) payable to the statutory auditor/s together with fees payable to its associate concern(s) or corporate body(ies) do/does not exceed the aggregate of fee payable for carrying out the statutory audit. 4. This notification shall apply for any appointment(s) on or after 1st April, 2002. Dr. Ashok Haldia Secretary [The Notification given in Appendix No. (31) was in operation until issuance of Council General Guidelines, 2008 – No. 1-CA(7)/02/2008 dated 8th August, 2008, given at Appendix No. (34)] Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax Audit | Nidhi Company Registration| LLP Registration | Accounting in India | NGO Registration | NGO Audit | ESG | BRSR | Private Security Agency | Udyam Registration | Trademark Registration | Copyright Registration | Patent Registration | Import Export Code | Forensic Accounting and Fraud Detection | Section 8 Company | Foreign Company | 80G and 12A Certificate | FCRA Registration |DGGI Cases | Scrutiny Cases | Income Escapement Cases | Search & Seizure | CIT Appeal | ITAT Appeal | Auditors | Internal Audit | Financial Audit | Process Audit | IEC Code | CA Certification | Income Tax Penalty Notice u/s 271(1)(c) | Income Tax Notice u/s 142(1) | Income Tax Notice u/s 144 |Income Tax Notice u/s 148 | Income Tax Demand Notice | Psara License | FCRA Online Company Registration Services in major cities of India Company Registration in Jaipur | Company Registration in Delhi | Company Registration in Pune | Company Registration in Hyderabad | Company Registration in Bangalore | Company Registration in Chennai | Company Registration in Kolkata | Company Registration in Mumbai | Company Registration in India | Company Registration in Gurgaon | Company Registration in Noida  Complete CA Services CA in Delhi | CA in Gurgaon | CA in Noida | CA in Jaipur | CA Firm in India RERA Services RERA Rajasthan | RERA Haryana | RERA Delhi | UP RERA

Published in Part III Section 4 of the Gazette of India dated 19th May, 2001] 8th May, 2001 No. 1-CA(7)/53/2001.– In exercise of the powers conferred by clause (ii) of Part II of the Second Schedule to the Chartered Accountants Act, 1949, the Council of the Institute of Chartered Accountants of India hereby specifies that a member of the Institute in practice shall be deemed to be guilty of professional misconduct, if he holds at any time appointment of more than the “specified number of audit assignments ”of the companies under Section 224 and/or Section 228 of the Companies Act, 1956. Provided that in the case of a firm of chartered accountants in practice, the “specified number of audit assignments ”shall be construed as the specified number of audit assignments for every partner of the firm. Provided further that where any partner of the firm of chartered accountants in practice is also a partner of any other firm or firms of chartered accountants in practice, the number of audit assignments which may be taken for all the firms together in relation to such partner shall not exceed the “specified number of audit assignments ”in the aggregate. Provided further where any partner of a firm or firms of chartered accountants in practice accepts one or more audit assignments in his individual capacity, or in the name of his proprietary firm, the total number of such assignments which may be accepted by all firms in relation to such chartered accountant and by him shall not exceed the “specified number of audit assignments ”in the aggregate. Explanation – 1. For the above purpose, the “specified number of audit assignments ”means – (a) in the case of a chartered accountant in practice or a proprietary firm of chartered accountant, thirty audit assignments whether in respect of private companies or other companies. (b) in the case of a firm of chartered accountants in practice, thirty audit assignments per partner in the firm, whether in respect of private companies or other companies. Provided that out of such “specified number of audit assignments”, the number of audit assignments of public companies each of which has a paid-up share capital of rupees twenty-five lakhs or more, shall not exceed ten. 2. In computing the “specified number of audit assignments”, (a) the number of such assignments, which he or any partner of his firm has accepted whether singly or in combination with any other chartered accountant in practice or firm of such chartered accountants, shall be taken into account. (b) the audit of the head office and branch offices of a company by one chartered accountant or firm of such chartered accountants in practice shall be regarded as one audit assignment. (c) the audit of one or more branches of the same company by one chartered accountant in practice or by firm of chartered accountants in practice in which he is a partner shall be construed as one audit assignment only. (d) the number of partners of a firm on the date of acceptance of audit assignment shall be taken into account. (e) A chartered accountant in full time employment elsewhere shall not be taken into account. 3. This notification shall come into force from the date of its publication in the Official Gazette. 4. A chartered accountant in practice as well as firm of chartered accountants in practice shall maintain a record of the audit assignments accepted by him or by the firm of chartered accountants, or by any of the partner of the firm in his individual name or as a partner of any other firm as far as possible, in the following format: S.No. Name of the Company/ Audit Assignment Registration Number Date of Appointment Date of Acceptance Date on which Form 23-B filed with Registrar of Companies 1 2 3 4 5 6 Dr. Ashok Haldia Secretary [The Notification given in Appendix No. (30) was in operation until issuance of Council General Guidelines, 2008 – No. 1-CA(7)/02/2008 dated 8th August, 2008, given at Appendix No. (34)]     Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax Audit | Nidhi Company Registration| LLP Registration | Accounting in India | NGO Registration | NGO Audit | ESG | BRSR | Private Security Agency | Udyam Registration | Trademark Registration | Copyright Registration | Patent Registration | Import Export Code | Forensic Accounting and Fraud Detection | Section 8 Company | Foreign Company | 80G and 12A Certificate | FCRA Registration |DGGI Cases | Scrutiny Cases | Income Escapement Cases | Search & Seizure | CIT Appeal | ITAT Appeal | Auditors | Internal Audit | Financial Audit | Process Audit | IEC Code | CA Certification | Income Tax Penalty Notice u/s 271(1)(c) | Income Tax Notice u/s 142(1) | Income Tax Notice u/s 144 |Income Tax Notice u/s 148 | Income Tax Demand Notice | Psara License | FCRA Online Company Registration Services in major cities of India Company Registration in Jaipur | Company Registration in Delhi | Company Registration in Pune | Company Registration in Hyderabad | Company Registration in Bangalore | Company Registration in Chennai | Company Registration in Kolkata | Company Registration in Mumbai | Company Registration in India | Company Registration in Gurgaon | Company Registration in Noida  Complete CA Services CA in Delhi | CA in Gurgaon | CA in Noida | CA in Jaipur | CA Firm in India RERA Services RERA Rajasthan | RERA Haryana | RERA Delhi | UP RERA

Published in Part III Section 4 of the Gazette of India dated 13th November, 1999 28th October, 1999 No. 1-CA(7)/46/99.– In exercise of the powers conferred by clause (ii) of Part II of the Second Schedule to the Chartered Accountants Act, 1949, the Council of the Institute of Chartered Accountants of India hereby specifies that a member of the Institute in practice shall be deemed to be guilty of professional misconduct, if he accepts the appointment as auditor of an entity in case the undisputed audit fee of another Chartered Accountant for carrying out the statutory audit under the Companies Act, 1956 or various other statutes has not been paid: Provided that in the case of sick unit, the above prohibition of acceptance shall not apply. Explanation 1 – For this purpose, the provision for audit fee in accounts signed by both – the auditee and the auditor shall be considered as “undisputed ”audit fee. Explanation 2 – For this purpose, “sick unit ”shall mean where the net worth is negative. (Ashok Haldia) Secretary [The Notification given in Appendix No. (29) was in operation until issuance of Council General Guidelines, 2008 – No. 1-CA(7)/02/2008 dated 8th August, 2008, given at Appendix No. (34)] Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax Audit | Nidhi Company Registration| LLP Registration | Accounting in India | NGO Registration | NGO Audit | ESG | BRSR | Private Security Agency | Udyam Registration | Trademark Registration | Copyright Registration | Patent Registration | Import Export Code | Forensic Accounting and Fraud Detection | Section 8 Company | Foreign Company | 80G and 12A Certificate | FCRA Registration |DGGI Cases | Scrutiny Cases | Income Escapement Cases | Search & Seizure | CIT Appeal | ITAT Appeal | Auditors | Internal Audit | Financial Audit | Process Audit | IEC Code | CA Certification | Income Tax Penalty Notice u/s 271(1)(c) | Income Tax Notice u/s 142(1) | Income Tax Notice u/s 144 |Income Tax Notice u/s 148 | Income Tax Demand Notice | Psara License | FCRA Online Company Registration Services in major cities of India Company Registration in Jaipur | Company Registration in Delhi | Company Registration in Pune | Company Registration in Hyderabad | Company Registration in Bangalore | Company Registration in Chennai | Company Registration in Kolkata | Company Registration in Mumbai | Company Registration in India | Company Registration in Gurgaon | Company Registration in Noida  Complete CA Services CA in Delhi | CA in Gurgaon | CA in Noida | CA in Jaipur | CA Firm in India RERA Services RERA Rajasthan | RERA Haryana | RERA Delhi | UP RERA

Published in Part III Section 4 of the Gazette of India dated 31st July, 1999 23rd July, 1999 No. 1-CA(7)/43/99.– In exercise of the powers conferred by clause (ii) of Part II of the Second Schedule to the Chartered Accountants Act, 1949, the Council of the Institute of Chartered Accountants of India hereby specifies that a member of the Institute in practice shall be deemed to be guilty of professional misconduct, if he or his firm undertakes issuance of Y2K compliance certificate while the member or the firm undertakes, whether directly or indirectly, the designing and conversion of the computer system for Y2K compliance. Explanation – A member of the Institute in practice is permitted to carry out Y2K compliance certification of an entity along with the audit of the same entity. Ashok Haldia Secretary [The Notification given in Appendix No. (28) was in operation until issuance of Council General Guidelines, 2008 – No. 1-CA(7)/02/2008 dated 8th August, 2008, given at Appendix No. (34)] Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax Audit | Nidhi Company Registration| LLP Registration | Accounting in India | NGO Registration | NGO Audit | ESG | BRSR | Private Security Agency | Udyam Registration | Trademark Registration | Copyright Registration | Patent Registration | Import Export Code | Forensic Accounting and Fraud Detection | Section 8 Company | Foreign Company | 80G and 12A Certificate | FCRA Registration |DGGI Cases | Scrutiny Cases | Income Escapement Cases | Search & Seizure | CIT Appeal | ITAT Appeal | Auditors | Internal Audit | Financial Audit | Process Audit | IEC Code | CA Certification | Income Tax Penalty Notice u/s 271(1)(c) | Income Tax Notice u/s 142(1) | Income Tax Notice u/s 144 |Income Tax Notice u/s 148 | Income Tax Demand Notice | Psara License | FCRA Online Company Registration Services in major cities of India Company Registration in Jaipur | Company Registration in Delhi | Company Registration in Pune | Company Registration in Hyderabad | Company Registration in Bangalore | Company Registration in Chennai | Company Registration in Kolkata | Company Registration in Mumbai | Company Registration in India | Company Registration in Gurgaon | Company Registration in Noida  Complete CA Services CA in Delhi | CA in Gurgaon | CA in Noida | CA in Jaipur | CA Firm in India RERA Services RERA Rajasthan | RERA Haryana | RERA Delhi | UP RERA

Published in Part III Section 4 of the Gazette of India dated 4th February, 1989 13th January, 1989 No. 1-CA(7)/3/88.– In exercise of the powers conferred by clause (ii) of Part II of the Second Schedule to the Chartered Accountants Act, 1949, the Council of the Institute of Chartered Accountants of India hereby specifies that a member of the Institute in practice shall be deemed to be guilty of professional misconduct, if he accepts, in a financial year, more than the “specified number of tax audit assignments ”under Section 44AB of the Income-tax Act, 1961. Provided that in the case of a firm of chartered accountants in practice, the “specified number of tax audit assignments ”shall be construed as the specified number of audit tax assignments for every partner of the firm. Provided further that where any partner of the firm is also a partner of any other firm or firms of chartered accountants in practice, the number of tax audit assignments which may be taken for all the firms together in relation to such partner shall not exceed the “specified number of tax audit assignments ”in the aggregate. Provided further that where any partner of a firm of chartered accountants in practice accepts one or more tax audit assignments in his individual capacity, the total number of such assignments which may be accepted by him shall not exceed the “specified number of tax audit assignments ”in the aggregate. Explanation – 1. For the above purpose, “specified number of tax audit assignments ”means- (a) in the case of a chartered accountant in practice or a proprietary firm of chartered accountant, 30 tax audit assignments, in a financial year, whether in respect of corporate or non-corporate assesses. (b) in the case of firm of chartered accountants in practice, 30 tax audit assignments per partner in the firm, in a financial year, whether in respect of corporate or non-corporate assesses. 2. In computing the “specified number of tax audit assignments”, each year’s audit would be taken as a separate assignment. 3. In computing the “specified number of tax audit assignments”, the number of such assignments, which he or any partner of his firm has accepted whether singly or in combination with any other chartered accountants in practice or firm of such chartered accountants, shall be taken into account. 4. The audit of the head office and branch offices of a concern shall be regarded as one tax audit assignment. 5. The audit of one or more branches of the same concern by one chartered accountant in practice shall be construed as only one tax audit assignment. 6. The above notification shall come into force from the financial year commencing on or after 1st April, 1989. 7. A chartered accountant in practice and every partner of a firm of such chartered accountants holding immediately before 1st April, 1989, tax audit assignments in excess of the specified number, shall within sixty days from 1st April, 1989, intimate his inability to conduct tax audit in excess of the specified number to the concerned assesses. 8. A chartered accountant in practice shall maintain a record of the tax audit assignments accepted by him in each financial year in the format as may be prescribed by the Council. M.C. Narasimhan Secretary [The Notification given in Appendix No. (27) was in operation until issuance of Council General Guidelines, 2008 – No. 1-CA(7)/02/2008 dated 8th August, 2008, given at Appendix No. (34)] Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax Audit | Nidhi Company Registration| LLP Registration | Accounting in India | NGO Registration | NGO Audit | ESG | BRSR | Private Security Agency | Udyam Registration | Trademark Registration | Copyright Registration | Patent Registration | Import Export Code | Forensic Accounting and Fraud Detection | Section 8 Company | Foreign Company | 80G and 12A Certificate | FCRA Registration |DGGI Cases | Scrutiny Cases | Income Escapement Cases | Search & Seizure | CIT Appeal | ITAT Appeal | Auditors | Internal Audit | Financial Audit | Process Audit | IEC Code | CA Certification | Income Tax Penalty Notice u/s 271(1)(c) | Income Tax Notice u/s 142(1) | Income Tax Notice u/s 144 |Income Tax Notice u/s 148 | Income Tax Demand Notice | Psara License | FCRA Online Company Registration Services in major cities of India Company Registration in Jaipur | Company Registration in Delhi | Company Registration in Pune | Company Registration in Hyderabad | Company Registration in Bangalore | Company Registration in Chennai | Company Registration in Kolkata | Company Registration in Mumbai | Company Registration in India | Company Registration in Gurgaon | Company Registration in Noida  Complete CA Services CA in Delhi | CA in Gurgaon | CA in Noida | CA in Jaipur | CA Firm in India RERA Services RERA Rajasthan | RERA Haryana | RERA Delhi | UP RERA

Published in Part III Section 4 of the Gazette of India dated 22nd May, 2004 12th May, 2004 No. 1-CA(7)/75/2004.– In exercise of the powers conferred by Clause (ii) of Part II of the Second Schedule to the Chartered Accountants Act, 1949, and in supersession of Notification No. 1-CA(7)/29/95 dated 1st March, 1995 published in Part III Section 4 of the Gazette of India dated 25th March, 1995, the Council of the Institute of Chartered Accountants of India hereby specifies that a member of the Institute in practice shall be deemed to be guilty of professional misconduct, if he on behalf of the firm of chartered accountants in which he is a partner (a) consisting of 4 or more partners but less than 8 partners with at least one partner holding a certificate of practice for five years or more; or (b) consisting of 8 or more partners with at least one partner holding a certificate of practice for five years or more; accepts or carries out any audit work involving receipt of audit fees (excluding reimbursement of expenses, if any) for such work of an amount less than what is specified hereunder:-   Practising firm having 4 or more partners but less than 8 partners Practising firm having 8 or more partners i) In cities with population of 2 million and above Rs.5000/- p.a. Rs.9000/- p.a. ii) In cities/town having population of less than 2 million Rs.3000/- p.a. Rs.6000/- p.a. Provided that such restriction shall not apply in respect of the following:- i) audit of accounts of charitable institutions, clubs, provident funds, etc. where the appointment is honorary i. e. without any fees; ii) statutory audit of branches of banks including regional rural banks; iii) audit of newly formed concerns relating to two accounting years from the date of commencement of their operations; and iv) certification or audit under Income-tax Act or other attestation work carried out by the Statutory Auditor. This becomes operative for all audits relating to accounting periods beginning on or after 1.4.2004. Explanation – For the purpose of this notification, the expression statutory auditor means and includes a chartered accountant appointed as an auditor under a Central/State or Provincial Act as well as an auditor appointed under any agreement. The Council has clarified that for the above purpose, the audit of Provident Fund Trust, Gratuity Fund etc. carried out by the statutory auditor are to be considered as separate and distinct audit so that the above restrictions are applicable to it. (DR. Ashok Haldia) Secretary   Amendment 1Substituted for the following Notification:- A[Published in Part III Section 4 of the Gazette of India dated 25th March, 1995] Notification (Chartered Accountants) 1st March, 1995 No. 1-CA(7)/29/95: In exercise of the powers conferred by Clause (ii) of Part II of the Second Schedule to the Chartered Accountants Act, 1949, and in supersession of Notification No. 1- CA(7)/158/87 dated May 25th, 1987 published in part III Section 4 of the Gazette of India dated June 6th, 1987, the Council of the Institute of Chartered Accountants of India hereby specifies that a member of the Institute in practice shall be deemed to be guilty of professional misconduct, if he on behalf of the firm of chartered accountants in which he is a partner (a) consisting of four or more partners but less than 8 partners with at least one partner holding a certificate of practice for five years or more; or (b) consisting of eight or more partners with at least one partner holding a certificate of practice for five years or more; accepts or carries out any audit work involving receipt of audit fees (excluding reimbursement of expenses, if any) for such work of an amount less than what is specified hereunder:   Practising firm having 4 or more partners but less than 8 partners Practising firm having 8 or more partners (i) In cities with population of 2 million and above   Rs. 3,000 pa   Rs. 6,000 pa   (ii) In cities/towns having population of less than 2 million   Rs. 2,000 pa   Rs. 4,000 pa       Provided that such restriction shall not apply in respect of the following: (i) audit of accounts of charitable institutions, clubs, provident funds, etc. where the appointment is honorary i.e. without any fees; (ii) statutory audit of branches of banks including regional rural banks; (iii) audit of newly formed concerns relating to two accounting years from the date of commencement of their operations; and (iv) certification or audit under Income-tax Act or other attestation work carried out by the Statutory Auditor. This becomes operative for all audits relating to accounting periods beginning on or after April 1, 1995. Explanation – For the purpose of this notification, the expression statutory auditor means and includes a chartered accountant appointed as an auditor under a Central/State or Provincial Act as well as an auditor appointed under any agreement. A.K. Majumdar Secretary A Earlier substituted for the following Notification:- [Published in Part III Section 4 of the Gazette of India dated 6th June, 1987] Notification (Chartered Accountants) 25th May, 1987 No. 1-CA(7)/158/87: In exercise of the powers conferred by clause (ii) of Part II of the Second Schedule to the Chartered Accountants Act, 1949, the Council of the Institute of Chartered Accountants of India hereby specifies that a member of the Institute in practice shall be deemed to be guilty of professional misconduct, if he on behalf of the firm of chartered accountants in which he is a partner (a) consisting of 4 or more partners but less than 8 partners with atleast one partner holding a certificate of practice for five years of more; or (b) consisting of 8 or more partners with atleast one partner holding a certificate of practice for five years or more; accepts or carries out any audit work involving receipt of audit fees (excluding reimbursement of expenses, if any) for such work of an amount below what is specified hereunder:-   Practising firm having 4 or more partners but less than 8 partners   Practising firm having 8 or more partners   i) In cities with population of 2 million and above   Rs.1,500/- p.a.   Rs.3,000/- p.a.   ii) In cities/towns having population of less than 2 million   Rs.1,000/- p.a.   Rs.2,000/- p.a.   Provided that such restriction shall not apply in respect of the following: i) audit of accounts of charitable institutions, clubs, provident funds, etc. where the appointment is honorary, i.e. without any fees; ii) statutory audit of branches of banks including regional rural banks; iii) audit of newly formed concerns relating to two accounting years from the date of