Practice or Job

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 September 2010 Dear Sir

One of my CA friend in working oveseas and earning Rs 1.25 lakhs per month . He is now thinking of resigning from the job and start practice in India . Since he was working overseas , he need to recollect and update all subjects now .

Can somebody really advice about the scope of CA Pratice and specially is it advicable for him to leave the job and start practice . The guy is now around 48 years

He has no great connections in India to canvas practice . It has to come alone .

As per your opinion , what are the areas he can concentrate in India if he opt to return back , apart from Practice - He is very interetsed in Share investment and Trading

Your valuble opinions will be of great help to decide on his future

Thanks

Thrissurkkaran Ishtan

Thrissurkkaran Ishtan (Expert)
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30 September 2010 With no connections and lack of touch with subjects, setting up a practice will be a difficult option (though not impossible). If he is keen to go into practice then, he can join a firm and gain experience 2 to 3 years and then think of practice. He should be able to do it quickly due to his wealth of experience. Alternatively, he can join a currently running medium firm with an objective to become partner within a time frame.

Scope for CA practice is good.

Regarding getting into share trading and investment, I don't think is an option due to his lack of knowledge in that area. Once again starting with someone / partnering would be an option.

All the best!