Section 25: Companies not to engage in accountancy.

The Chartered Accountants Act, 1949Central Act · Act 38 of 1949

(1) No company, whether incorporated in India or elsewhere, shall practice as chartered accountants.

[Explanation.--For the removal of doubts, it is hereby declared that the company shall include any limited liability partnership which has company as its partner for the purposes of this section.]

(2) If any company contravenes the provisions of sub-section (1), then, without prejudice to any other proceedings which may be taken against the company, every director, manager, secretary and any other officer thereof who is knowingly a party to such contravention shall be punishable with fine [which shall not be less than two lakh rupees but] which may extend on first conviction to [ten lakh rupees], and on any subsequent conviction [with fine which shall not be less than four lakh rupees but which may extend to twenty lakh rupees].

Where this provision sits

Act	The Chartered Accountants Act, 1949
Section	25
Marginal note	Companies not to engage in accountancy.
Jurisdiction	Central
Status	In force as published by the source
Judgments citing it	1

How this provision has been amended

Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.

inserted, Act 3 of 2012. . Ins. by Act 3 of 2012, s. 3 (w.e.f. 1-2-2012).
inserted, Act 12 of 2022. . Ins. by Act 12 of 2022, s. 30 (w.e.f. 10-5-2022).
substituted. . Subs. by s. 30, ibid., for "one thousand rupees" (w.e.f. 10-5-2022).
substituted. . Subs. by s. 30, ibid., for "to five thousand rupees" (w.e.f. 10-5-2022).

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