Section 2(2) in The Cost And Works Accountants Act, 1959
(2)Save as otherwise provided in this Act, a member of the Institute shall be deemed “to be in practice” when, individually or in partnership with members of such other recognised professions as may be prescribed, he, in consideration of remuneration received or to be received,—(i)engages himself in the practice of cost accountancy; or(ii)offers to perform or performs services involving the costing or pricing of goods or services or the preparation, verification or certification or auditing of cost accounting and related statements or holds himself out to the public as a cost accountant in practice; or(iii)renders professional services or assistance in or about matters of principle or detail relating to cost accounting procedure or the recording, presentation or certification of costing facts or data; or(iv)renders such other services as, in the opinion of the Council, are or may be rendered by a cost accountant in practice;and the words “to be in practice”, with their grammatical variations and cognate expressions, shall be construed accordingly.Explanation.—A member of the Institute who is a whole-time salaried employee of any person shall not be deemed to be in practice within the meaning of this sub-section.
