Wednesday, 2 September 2015

Can one practice as a CA only in the state in which he has completed his training? Also, is it better to work at an MNC than pursuing individual practice in CA?

It is definitely not important for a CA to practice only in the city in which he has completed his articleship training. Why would a professional want to limit his market and skill by doing so?

I believe the only reason one may choose to remain in the state he has trained in is if the CA wishes to continue handling work related to the tax laws of that particular state only and is too scared of expanding his knowledge to the laws of other states. This difference of state tax laws may also get reduced to a great extent by the introduction of the GST. Anyway, in any case, I would advise you to not pay heed to anyone who suggests you to limit your area of practice based on such limited geographical constraints.

To answer the second part of your question, I would say that opinions may vary. However, in my opinion, a person may be exposed to a wider spectrum of assignments ranging from direct taxes to indirect taxes and from corporate law compliances to corporate finance matters. This not only ensures that a person is on his toes and constantly learning, but also gives a person ample opportunity to identify a work area that he may be most interested in and then pursue it with his whole heart. MNC's on the other hand are normally known to limit you in a work profile, which may lead to a professional not being too aware of changes in other spheres of his educational domain. But at the same time, such focused job descriptions also ensure specialization, which is important.

Further, it is important to learn the systems and processes that exist in an MNC so as to help you become become more productive through efficient utilization of systems. You may later choose to duplicate such systems within your individual practice as well.

In addition, some people believe that the scope for growth in an individual practice is much more if a person is dynamic enough and can market himself well.

To sum, I would say that both have their pros and cons. One could work at an MNC for a few years and then start one's own practice after having made a good network among businesspeople and having gathered enough experience to venture on one's own.

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