1[24A. Penalty for using name of the Council, awarding degrees of chartered accountancy, etc.--(1) Save as otherwise provided in this Act, no person shall--
(i) use a name or a common seal which is identical with the name or the common seal of the Institute or so nearly resembles it as to deceive or as is likely to deceive the public;
(ii) award any degree, diploma or certificate or bestow any designation which indicates or purports to indicate the position or attainment of any qualification or competence similar to that of a member of the Institute; or
(iii) seek to regulate in any manner whatsoever the profession of chartered accountants.
(2) Any person contravening the provisions of sub-section (1) shall, without prejudice to any other proceedings which may be taken against him, 2[be punishable with imprisonment which may extend to six months, or with fine which shall not be less than one lakh rupees but which may extend to five lakh rupees, or with both on first conviction], and on any subsequent conviction with imprisonment which may extend to 3[one year, or with fine which shall not be less than two lakh rupees but which may extend to ten lakh rupees], or with both.
4* * * * *]
(i) use a name or a common seal which is identical with the name or the common seal of the Institute or so nearly resembles it as to deceive or as is likely to deceive the public;
(ii) award any degree, diploma or certificate or bestow any designation which indicates or purports to indicate the position or attainment of any qualification or competence similar to that of a member of the Institute; or
(iii) seek to regulate in any manner whatsoever the profession of chartered accountants.
(2) Any person contravening the provisions of sub-section (1) shall, without prejudice to any other proceedings which may be taken against him, 2[be punishable with imprisonment which may extend to six months, or with fine which shall not be less than one lakh rupees but which may extend to five lakh rupees, or with both on first conviction], and on any subsequent conviction with imprisonment which may extend to 3[one year, or with fine which shall not be less than two lakh rupees but which may extend to ten lakh rupees], or with both.
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Source footnotes
1. Ins. by Act 15 of 1959, s. 21 (w.e.f. 1-7-1959).2. Subs. by Act 12 of 2022, s. 29, for “be punishable with fine which may extend on first conviction to one thousand rupees” (w.e.f. 10-5-2022).
3. Subs. by s. 29, ibid., for “six months, or with fine which may extend to five thousand rupees” (w.e.f.10-5-2022).
4 Omitted by Act 9 of 2006, s. 22 (w.e.f. 8-8-2006).
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More sections of this act
Section 1 · Short title, extent and commencement.Section 2 · Interpretation.Section 3 · Incorporation of the Institute.Section 4 · Entry of names in the Register of members.Section 5 · Fellows and Associates.Section 6 · Certificate of practice.Section 7 · Members to be known as Chartered Accountants.Section 8 · Disabilities.India Code, Government of India. Text fetched 19 Oct 2026. Source metadata reports last modification: 2022-06-02. Check the linked official text and subsequent notifications when applying a provision.