Section 24Chapter 7

Penalty for falsely claiming to be a member, etc

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 lakh rupees, and on any subsequent conviction with imprisonment which may extend to six months or with fine which may extend to five lakh rupees, or with both.

Notes, amendments & references (2)

1. Subs. by Act 12 of 2022, s. 28, for “one thousand rupees” (w.e.f. 10-5-2022).

2. Subs. by s. 28, ibid ., for “five thousand rupees” (w.e.f. 10-5-2022).