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/- |
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