No relaxation in ICAI Annual membership / COP Fee for 2021-22
ICAI has issued it Annual Fee Circular for 2021-22. The fee became due for payment on 1st April, 2021 and needs to be paid on or before 30th September, 2021.
As per ICAI 71st Annual Report, total number of Chartered Accountants as on 01.04.2020 were 307238. The category-wise breakup of the members was as under:
| Category of Members | Fellow | Associates | Total |
| In Full Time Practice | 82953 | 53368 | 136321 |
| In Part Time Practice | 2705 | 4531 | 7236 |
| Not in Practice | 13825 | 149856 | 163681 |
| Total | 99483 | 207755 | 307238 |
As per ICAI Balance sheet for the year ended 31st March 2020, the gross income of the Institute from membership fee was whooping Rs. 11236 lakhs while the net surplus earned by ICAI for the year was Rs. 29919 lakhs.
In view of the prevailing situation in the Country due to covid-19 pandemic, it was expected that ICAI would grant some relief/relaxation to members in the payment of Annual Membership / COP Fee for 2021-22. However no relief has been given and the Annual fee has been kept the same as it was for 2020-21.
Also, in terms of GST liability, ICAI has requested members to pay the fees preferably by 30th June, 2021 .
As per ICAI latest announcement, for 2021-22, the Annual Membership Fee/Certificate of Practice Fee payable along with GST i.e.18% is as under;
| 1. Fees for all Members below the age of 60 years as on 01.04.2021 Not holding Certificate of Practice | ||
| Associate Membership Fee GST@ 18% |
Rs. 1,500/- Rs. 270/- |
Rs. 1,770/- |
| Fellow Membership Fee GST@ 18% |
Rs. 3,000/- Rs. 540/- |
Rs. 3,540/- |
| 2. Fees for all Members holding Certificate of Practice(COP) | ||
| Associate Membership Fee Certificate of Practice fee GST@ 18% |
Rs. 1,500/- Rs. 3,000/- Rs. 810/- |
Rs. 5,310/- |
| Fellow Membership Fee Certificate of Practice fee GST@ 18% |
Rs. 3,000/- Rs. 4,000/- Rs. 1,260/- |
Rs. 8,260/- |
| 3. Fees for Members of the age of 60 years or above (as on 01.04.2021) not holding Certificate of Practice {Those holding COP are required to pay the Fees as per 2 above} | ||
| Associate Membership Fee GST@ 18% |
Rs. 1,100/- Rs. 198/- |
Rs. 1,298/- |
| Fellow Membership Fee GST@ 18% |
Rs. 2,300/- Rs. 414/- |
Rs. 2,714/- |
CBDT has extended the due date for furnishing Return of Income for Assessment Year 2026-27 (FY 2025-26) in respect of…
Denying the accumulation of u/s 11(2) merely on grounds of a procedural delay in filing Form No. 10 is unsustainable…
Engagement of 05 Young Professionals CAs in the Office of Central Registrar of Cooperative Society on contractual basis The office…
Immunity u/s 270AA(2) in respect of a single transaction can not be denied to one assessee when the penalty was…
ITAT deleted addition u/s 69A towards jewellery found in search in view of Indian traditions, CBDT Instruction and High Court…
Documents obtained post search and information obtained from the public domain not incriminating material. Documents obtained by AO post search…