Section 24. Penalty for falsely claiming to be a member, etc.

Any person who,-- (i) not being a member of the Institute,-- (a) represents that he is a member of the Institute; or (b) uses the designation Chartered Accountant, or (ii) being a member of the Institute, but not having a certificate of practice, represents that he is in practice or practices as a chartered accountants, shall be punishable on first conviction with fine which may extend to 1[one lakh rupees], and on any subsequent conviction with imprisonment which may extend to six months or with fine which may extend to 2[five lakh rupees], or with both.