Can a CA show consulting income under Profits & Loss from business or profession who does not hold COP.
5 Replies
Giridhar S Karandikar
(Team Lead)
(7548 Points)
Replied 05 September 2012
As per the CA act teh CA is not allowed to practice without holding a valid COP. If for any reason your case comes up with the institute then it wold endanger your membership.
So get a valid COP from the institute & then do consulting. For I-t it would not be any problem as thye wont go into the details if you are holding any COP or not.
R M SHAH
(CA)
(43 Points)
Replied 06 September 2012
sir if a ca dont want to take COP then income earned by filing return of income or finalising accounts of Company should be shown under which head of income.
Giridhar S Karandikar
(Team Lead)
(7548 Points)
Replied 06 September 2012
Dear it would be professional income.
R M SHAH
(CA)
(43 Points)
Replied 07 September 2012
ok. thanks a lot sir and so i should prepare a bill showing professional fees. ?
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