15 December 2013
Action may be taken by ICAI (Disciplinary Committee): (1) Reprimand the member (2) Remove name of member from CA member reg. (3) fine up to Rs. 5 lacs
As far as present era is concerned, tax audit report is required to submit online. Hence only COP holder can register with Tax dept. and ICAI. After registration he can submit online report. So this malpractices are curbed at present.