Go Ad-Free on CAclubindia with Daily Mobile Updates. Subscribe Now!

Can CA become a partner in LLP

13 December 2022

I want know can a CA become a partner in any LLP? Is there any objection on CA's that he cannot be an partner in the LLP or company or Partnership firm.

Please can anyone help me in this, I have to incorporate new LLP in which can i add a CA as a partner.

Reply
Follow
Share

3 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177818 Points)
Replied 13 December 2022

Regulation 53B of the Chartered Accountants Regulations, 1988 covers partnership aspect.

The provisions of Section 2(2) of the Chartered Accountants Act, 1949, Clause 4 of Part I of First Schedule to the Chartered Accountants Act, 1949 read with Regulation 53B of the Chartered Accountants Regulations, 1988 permit CAs to enter into partnership with the members of following professional bodies:

(a) Company Secretary, member, The Institute of Company Secretaries of India, established under the Company Secretaries Act, 1980;

(b) Cost Accountant, member, The Institute of Cost and Works Accountants of India established under the Cost and Works Accountants Act, 1959;

(d) Engineer, member, The Institution of Engineers, or Engineering from a University established by law or an institution recognized by law;

(e) Architect, member, The Indian Institute of Architects established under the Architects Act, 1972; (f) Actuary, member, The Institute of Actuaries of India, established under the Actuaries Act, 2006.

1 Like

Upgrade to CAclubindia Pro. Subscribe Now!

Abhay salunkhe (96 Points)
Replied 13 December 2022

Thank You so much for your response. But I am not getting clear from this, let me explain it straight away

I am a CA, now I wanted to incorporate a new LLP can I incorporate a new LLP, with my post as designated partner. I read somewhere that the CA cannot be a partner in any type LLP irrespective of if he has carried out his family business.

So please advise can a CA start any LLP not considering of the nature of business.