Chartered Accountants seeks Huge Penalty on Fake CAs

Chartered Accountants seeks Huge Penalty on Fake CAs

Chartered Accountants - UDIN

The Chartered Accountants [CAs) affiliated with the Institute of Chartered Accountants of India (ICAI) have warned the general public, including trade and industry, for not taking the services of the persons impersonating themselves as CAS and not the members of ICAI, Times Now reported.

According to the report, the Chartered Accountants Association of Surat (CAAS) has demanded the ICAI to increase penalty leviable on non-members representing in any cases in the income tax department or other central and state agencies from Rs 1,000 to Rs 5 lakh for first offence and Rs 5,000 to Rs 20 lakh for second offence along with imprisonment of one year.

The CAAS has also suggested to take strong action against non-members representing themselves as CAs. CAAS office-bearers have also sought the amendment of Section 24 of the Chartered Accountant Act, 1949, by imposing exemplary penalty for falsely claiming to be a member and using the CA logo.

They pointed out that these fake CAs are soliciting the clients using fraudulent means and falsely representing them as Chartered Accountants.

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