Under the Chartered Accountants Act, 1949, PROFESSIONAL MISCONDUCT for a CA is defined in:
AParts I, II, III of the FIRST Schedule + Parts I and II of the SECOND Schedule
BOnly Part IV of the First Schedule
CSection 21 of the Act exclusively, with no Schedules involved
DOnly Part III of the Second Schedule (Other Misconduct)
Answer & Solution
Correct answer: A. Parts I, II, III of the FIRST Schedule + Parts I and II of the SECOND Schedule
Section 22 of the CA Act 1949 references the Schedules for the definition of misconduct. Professional misconduct = Parts I-III of First Schedule + Parts I-II of Second Schedule. OTHER misconduct = Part IV of First Schedule + Part III of Second Schedule. Section 21 provides the disciplinary mechanism but doesn't define misconduct.
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