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Permission to do business

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(Querist)
08 August 2023 Can a CA Become sleeping partner in any partnership firm.

In case we need to take permission from institute, how should we go about it.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
09 August 2023 Yes, a member in practice can be a sleeping partner in a family business concern provided he takes specific permission from the Council in terms of Regulation 190A of Chartered Accountants Regulations, 1988.
Only family business allowed.

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