Clarification on a member in practice being a Karta of a HUF making investment.
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A member in practice engaged as Karta of a Hindu undivided Family (HUF) doing family business (under s.n. 4 of “Permission to be granted specifically” of Appendix 9 to the Chartered Accountants Regulations, 1988)will be within the limits prescribed by Council if he makes investments from the funds pertaining to HUF only, provided he is not actively engaged in the management of the said business.
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