Pick the service you want to add — see whether ICAI allows it, whether SEBI needs you registered first, and whether your audit clients are off-limits.

• ICAI lets a practising CA give investment counselling (item xx of its management-consultancy list) and register with SEBI as an adviser — but not broke, underwrite or manage portfolios.
• SEBI exempts advice that's incidental to your CA work; its own example is suggesting ELSS during tax planning. Advice run as a business — a separate fee, its own engagement — needs registration.
• We call it a grey zone when you pick specific shares or funds without an extra fee, or give it free. ⚑ This is our reading — SEBI has given only one example each way.
• Research-analyst rules have no CA exemption: paid buy/sell/hold calls to a group or the public need registration.
• The part-time route caps you at 75 clients. Above that, a practising CA needs a separate registered entity. ⚑ Check how ICAI's rules apply to running it.
• A statutory auditor can't give investment advice to the company, its holding or subsidiary (Companies Act, section 144). Other audits aren't covered by that section, but ICAI's independence rules are. ⚑
• AI consultancy (item xxxii) is allowed only in areas a CA can serve. CSR, social impact and BRSR assessment (item xxxi) has applied since 11 Dec 2025.
• Employed CAs don't need ICAI's management-consultancy permission, but SEBI's part-time route needs your employer's no-objection. ⚑
• Sources: ICAI Ethical Standards Board clarification (Oct 2024) · SEBI Investment Adviser FAQ 15 (2 Jul 2024) · SEBI IA and RA amendment regulations (16 Dec 2024) · SEBI IA and RA guidelines (8 Jan 2025) · SEBI circular SEBI/HO/MIRSD/MIRSD-PoD/P/CIR/2025/48 (2 Apr 2025) — advance fees up to one year · ICAI Code of Ethics 2026, para 2.2.3 · Companies Act 2013, s.144.

Based on the ICAI ESB clarification (Oct 2024), SEBI's IA and RA Regulations as amended 16 Dec 2024, the 8 Jan 2025 guidelines and the 2 Apr 2025 advance-fee circular, as read on 17 Oct 2026. A guide for your decision, not a legal opinion; grey-zone results need a view from someone you trust on SEBI regulation.

Rules checked 17 Oct 2026.