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Retainership fee for ca student

Saral Agarwal (Not employed) (44 Points)

10 January 2015

Dear All,

I want to know whether a CA student can recieve Reatainership fees from his relative? Moreover can he recieve the same after he becomes a CA even though he is not in practice?

Regards,

Thanks,

Saral Agarwal

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4 Replies

CA SURENDRA KUMAR RAKHECHA (Practising CA at Surat) (26263 Points)
Replied 10 January 2015

Yes, one can receive retainership fee or say salary from his/her relative if (s)he is not engaged with Articleship Training.

After qualifying CA but not engaged in practice, (s)he can still receive Salary from relative. But here (s)he must not raise professionoal bills for the services rendered.

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Saral Agarwal (Not employed) (44 Points)
Replied 12 January 2015

Sir,

Thank u for ur reply. But why cannot a person after qualifying CA but not engaged in practice raise Retainership Charges on professional basis? I have this query because a Non-CA can also render professional services...

Thank u once again.

Louie Aiken (Accountant) (22 Points)
Replied 16 January 2015

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CA SURENDRA KUMAR RAKHECHA (Practising CA at Surat) (26263 Points)
Replied 18 January 2015

The simple reason is Retailership is applicable only to professionals who are in practice. .

However, you query is logical.

It is really very unfortunate that in India; any person can serve as an Accountant without having any professional qualification On the basis of mere practical experience, he can serve as an Accountant (which is not possible in medical or engineering streams).

Since he doesn't have qualification, hence he is not held professionally responsible.