Penalty of Rs 100000 applicable for falsely claiming to be CA, using designation as a CA by non member or CA not holding COP practices

Penalty for falsely claiming to be a CA , using designation as a CA by nonmember or a CA not holding COP practices as such increased from Rs, 1000 to Rs 1,00,000 for 1st-time conviction.

The decision of increasing the penalty from Rs. 1000 to Rs. 100000 on such mischievous behavior is taken in the parliament today, and an amendment bill was Introduced.

According to Amendment Bill, it is stated that:-

Penalty for falsely claiming to be a member, etc.

24. Any person who,—

(i) not being a member of the Institute,—

(a) represents that he is a member of the Institute; or

(b) uses the designation Chartered Accountant, or

(ii) being a member of the Institute, but not having a certificate of practice, represents that he is in practice or practices as a chartered accountants, shall be punishable on first conviction with fine which may extend to one thousand rupees, and on any subsequent conviction with imprisonment which may extend to six months or with fine which may extend to five thousand rupees, or with both.

Penalty for using name of the Council, awarding degrees of chartered accountancy, etc.

24A. (1) * * * * *

(2) Any person contravening the provisions of sub-section (1) shall, without prejudice to any other proceedings which may be taken against him, be punishable with fine which may extend on first conviction to one thousand rupees, and on any subsequent conviction with imprisonment which may extend to six months, or with fine which may extend to five thousand rupees, or with both.

To Read the Amendment Bill Download PDF Given Below :