Chartered Accountants Act, 1949

Indian law establishing the Institute of Chartered Accountants

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The Chartered Accountants Act, 1949

Constituent Assembly of India

Long title

* An Act to make provision for the regulation of the profession of Chartered Accountants.

Citation| Act No. 38 of 1949
Territorial extent| Whole of India
Enacted by| Constituent Assembly of India
Enacted| 1 May 1949
Assented to| 1 May 1949
Commenced| 1 July 1949
Status: In force

The Chartered Accountants Act, 1949 is a statute enacted by the Constituent Assembly of India, which was acting as the provisional Parliament of India in 1949, to regulate the profession of Chartered Accountants in India. Under this act, The Institute of Chartered Accountants of India was established as a statutory body for the promotion, development and regulation of "the profession of Chartered Accountants in India". The law provides for qualifications, elections for central as well as regional councils, penalties for misconduct by Chartered Accountants.

## References

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## External links

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* Act No. 38 of 1949
* Informative Website & Training institute – AJ Education NeXt

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