hello everyone,
i would like to know is it necessary for a CA to obtain COP to work as a full time consultant in a pvt ltd company. than in employment
CA Shree Jain
(Chartered Accountant)
(1572 Points)
Replied 11 February 2015
Sathish M
(Management Accountant)
(40581 Points)
Replied 12 February 2015
It boils down to the terms of your engagement with the organization. In case, you join them as a consultant and they deduct only TDS for professional services then there is no restriction on your part to hold a Certificate of Practice unless and until the terms of engagement bar you from holding a COP.
On the contrary, if you are a full time consultant on the rolls of the organization, and you are paid salary,then employer-employee relationship kicks in and you can not hold full time certificate of practice. Beware of professional ethics on this front, some of them tacitly and deceitfully violate this provision.
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