Chartered Accountants Act, 1949 · Chapter VII: Penalties
Section 25: Companies not to engage in accountancy
(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].
Source: India Code (indiacode.gov.in), the consolidated text published by the Legislative Department, Government of India. Text as updated on India Code on 15 October 2026. Words in square brackets [ ] were inserted or substituted by later amending Acts, and *** marks words omitted by an amendment. The amendment footnotes are not reproduced here. Official text on India Code.
Supreme Court judgments citing the section 25
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