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ICAI RECOMMENDED MINIMUM SCALE OF FEES

CMA KNVV Sri Vidya - Sri Kanth (C.A.Final (New) ICWAI FINAL (New)) (11269 Points)

23 June 2009

Dear Member

Sub : ICAI RECOMMENDED MINIMUM SCALE OF FEES FOR VARIOUS KIND OF ASSIGNMENTS

The enclosed attachment is the Recommended Minimum Scale of Fee to be charged by CAs in Practice by ICAI which was discussed at a meeting by Contributors of the Reference Manual along with the Members of Research & Publication Committee.

Professional Development Committee at its 185th meeting held on January 30, 2009 approved the attached "Recommended Scale of Fees for various kind of assignment" (which is in addition to the council decision on revision of recommended scale of fee chargeable for the work done by the members of the Institute).

It is strongly recommended that this “ MINIMUM SCALE OF FEE “ should be send to all the clients so that the awareness is created amongst them. With this, the disparity amongst the CAs in charging the fee from clients ( either Muffisil or city ) can be minimized only if it is implemented strictly, only then the true worth of the professional is realized.

Please circulate this list to as many CAs as possible.

With warm regards

Naresh Chandra Gelli

Regional Council Member

Hyderabad

nareshgelli @ rediffmail.com

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CMA KNVV Sri Vidya - Sri Kanth (C.A.Final (New) ICWAI FINAL (New)) (11269 Points)
Replied 23 June 2009

RECOMMENDED MINIMUM SCALE OF FEES FOR VARIOUS KIND OF ASSIGNMENTS I) DEEDS/ AGREEMENTS Rate (a) i) Partnership Deed Rs.6,000/- & Above ii) Partnership Deed (With consultation & Tax Planning) Rs.10,000/- & Above (b) Filing of Form with ROF Rs. 2,500/- Per Form (c) Supplementary Partnership Deed Rs. 2,500/- & Above (d) Modification in the Deed Rs. 2,500/- & Above (e) Leave & Licence Agreement i) Drafting Rs. 5,000/- & Above ii) Registration& Modification Rs. 2,500/- & Above (f) Gift Deed: i) for Movable Properties Rs. 5,000/- & Above ii) for Immovable Properties Rs. 15,000/- & Above (g) Trust Declaration Deed Rs. 10,000/- & Above (h) Drafting of Will: English i) Simple Rs. 10,000/- & Above ii) With Trust Planning Rs. 15,000/- & Above (i) Agreement to Sell i) Agreement to Sell, Society formalities & related Documents Rs. 20,000/- & Above ii) Only Agreement to Sell Rs. 10,000/- & Above (j) Documentation i) Power of Attorney: Specific Rs.7,500/- & Above ii) Power of Attorney: General Rs.7,500/- & Above iii) Indemnity Bond- Affidavit Rs.5,000/- & Above iv) HUF- Partition Deed Rs.10,000/- & Above II) INCOME TAX WORKS A. Filing of Return of Income I) For Individuals / HUFs etc. (a) Filing of Return of Income With Salary/Other Sources/Share of Profit. Rs. 3,000/- & Above (b) Filing of Return of Income With detailed Capital Gain working i) Less than 10 Transactions Rs. 5,000/- & Above ii) More than 10 Transactions Rs. 8,000/- & Above (c) Filing of Return of Income With Preparation of Bank Summary, Capital A/c and Balance Sheet Rs. 5,000/- & Above (d) Advance Tax Calculation Rs. 2,000/- Per installment II) (a) Partnership Firms/Sole Proprietor with verification of: 1) Method of Accounting } 2) Stock Valuation } Rs.5,000/- Per Verification 3) G. P. Ratio } 4) Expense Ratios etc. } (b) Small Proprietorship/ Partnership Rs. 5,000/- Per Verification ( c) Minor's I. T. Statement Rs. 3,000/- & Above (d) Private Ltd. Company: i) Active Rs. 7,500/- & Above ii) Defunct Rs. 5,000/- & Above (e) Public Ltd. Company Rs. 20,000/- & Above B. Filing of Forms etc. (a) Filing of TDS/TCS Return (per Form) (Quarterly Fees) i) With 5 or less Entries Rs.2,000/- & Above ii) With more than 5 Entries Rs.3,000/- & Above (b) Filing Form No. 15-H /G(per Set) Rs. 1,000/- & Above ( c) PAN/TAN Application Rs. 1,500/- & Above C. Certificate (a) Other Certificates (Like Lower TDS Certificate, 115JB) Rs. 5,000/- & Above D. Filing of Appeal etc. (a) First Appeal. Preparation of Statement of Facts, Grounds of Appeal, Etc. Rs. 10,000/- & Above (b) Second Appeal (Tribunal) Rs. 15,000/- & Above E. FBT Rs.3,000/- & Above per quarter including return F. Defered Tax Calculation Rs. 5,000/- & Above NOTE: When Matters are referred to Counsel personal time will be billed seperately G. Assessments etc. (a) Attending Scrutiny Assessment/ Appeal Rs. 3,000/- Per Visit subject to minimum Rs.5,000/- (b) Attending Summons Rs. 3,000/- Per Visit ( c) Drafting and Attending for Rectifications/ Refunds/ Appeal effects Etc. Rs. 3,000/- Per Visit subject to minimum Rs.3,000/- (d) I. T. Survey Rs. 50,000/- (e) T.D.S. Survey Rs.20,000/- (f) I.T. Search & Seizure Discretionary III) CHARITABLE TRUSTS (a) (i) Registration Under local Act Rs. 10,000/- & Above (ii) Societies Registration Act Rs. 10,000/- & Above (b) Registration Under Income Tax Act. Rs. 15,000/- & Above (c) Exemption Certificate U/s. 80G of I. T. Act. Rs. 15,000/- & Above (d) Filing Objection Memo Rs. 2,000/- & Above (e) Filing of Change Report Rs. 2,000/- & Above (f) Filing of Various Forms Rs. 2,000/- Per Form IV) COMPANY WORK (a) Filing Application for Name Approval Rs. 5,000/- & Above (b) Incorporation of a Private Limited Company Rs. 20,000/- & Above ( c) Incorporation of a Public Limited Company Rs. 25,000/- & Above (d)(i) Company's ROC Work, Preparation of Minutes, Statutory Register & Other Secretarial Work Rs. 3,000 Per Quarter (ii) Assisting in Other Certificate Rs. 3,000/- & Above (e) Filing Annual Return Etc. Rs. 5,000/- & Above (f) Filing Other Forms Like: F-32, 18, 2 Rs. 1,500/- & Above (g) Increase in Authourised Capital Filing F-5, F-23, including preparation of Slips Pages for Memorandum of Association/ Article of Association. Rs. 5,000/- & Above V) V.A.T./ PROFESSION TAX: A. Registration Work (a) Registration Under V.A.T. & C.S.T. Rs. 10,000/- & Above ( b) Profession Tax Registration (PTR) Rs. 1,500/- & Above (c) Profession Tax Enrolment (per application) Rs. 1,500/- & Above B. Filing of Return (V.A.T.) (a) Monthly Challans with Annual Return Rs. 1,500/- + (Per Month) (b) Quarterly Challans with Annual Return Rs.1,500/- + (Per Quarter) ( c) Six Monthly Challans with Annual Return Rs. 3,000 + (Per 6 Months) C. Assessments/ Appeals. (a) Attending Sales Tax Assessments Rs. 3,000/- (Per Visit) (b) Attending Sales Tax Appeals Rs. 5,000/- (per visit) D. Filing of Appeals. (a) First Appeal (AC/DC) Rs. 10,000/- & Above (b) Second Appeal Rs. 15,000/- & Above E. Miscellaneous Work. (a) P.T. Returns & Assessment Rs. 3,000/- & Above (b) Obtaining C/F/H Forms under S.T. (Per Application) (i) First Time Rs. 4,000/- & Above (ii) Renewal Rs. 2,000/- & Above VI) AUDIT WORKS and OTHER ASSINGMENTS will be on the basis of time devoted and will be Billed accordingly. (On Time Basis) (a) Statutory Audit, Tax Audit, Internal Audit, Accountancy and Secretarial Work: (i) Principal Rs.900/- to 1,800/- Per hour (ii) Qualified Assistants Rs.450/- to 900/- Per hour (iii) Semi Qualified/Other Assistants Rs.150/- to 300/- Per hour (b) Taxation Work: (I) Principal Rs.1,500/- to 3,000 per hour (ii) Qualified Assistants Rs.750/- to 1,500/- per hour (iii) Semi Qualified/Other Assistants Rs.300/- to Rs.600/- per hour Subject to minimum indicative Fees as under: (i) Tax Audit Rs. 10,000/- & Above (iii) Company Audit (a) Small/ Inactive Pvt. Ltd. Co. Rs. 5,000/- & Above (b) Medium Size Pvt. Ltd. Co. Rs. 10,000/- & Above ( c) Large Size Pvt. Ltd. Co./ Public Ltd. Co. Discretionary (iv) V.A.T. Audit Rs. 10,000/- & Above (v) Review Of TDS Compliance Rs. 3,000/- per quarter (vi) FBT: Compilation & Tax Payment Calculation Rs. 3,000/- & Above Per Quarter (viii) FBT Yearly Return Rs. 5,000/- & Above (ix) Transfer Pricing Audit Rs. 50,000/- & Above VII) INVESTIGATION, MANAGEMENT SERVICES OR SPECIAL ASSIGNMENTS (a) Principal Rs. 2,250/- to 4,500/- per hour (b) Qualified Assistant Rs.1,125/- to 2,250/- per hour ( c) Semi-Qualified/Other Assistants Rs.375/- to 750/- per hour Giving expert evidence in courts of law in the Union of India according to professional standing of the witness Rs. 7500 to Rs. 15000 for each day or part thereof, spent in attendance and/or travelling VIII) CERTIFICATION WORK (a) Routine Certificates : For LIC/ Passports/ Credit Cards/ Etc. Rs. 500/- & Above per certificate IX) WEALTH TAX (a) Per Statement Rs. 3,000/- & Above (b) Statement & Filing Return Rs. 3,000/- & Above X) NBFC/ RBI MATTERS (a) NBFC Registration with RBI Rs. 1,00,000/- & Above (b) Other Returns Rs. 10,000/- & Above XI) SERVICE TAX (a) Registration Rs. 5,000/- & Above ( b) Per Challan with Half Yearly Return Rs. 6,000/- & Above (c ) Income Tax Clearance Certificates Rs.5,000/- & Above. (d) Assessment Rs. 10,000/- & Above XII) FEMA MATTERS 1. Filing Declaration with RBI in relation to transaction by NRIs/ OCBs Rs. 15,000/- & Above (Form DIN/IPI 7 Etc.) 2. Obtaining Prior Permissions from RBI for transaction with NRIs/ OCBs (Form ISD/ ISD( R) Etc. Rs. 25,000/- & Above 3. Technical Collaboration: Advising, obtaining RBI permission, drafting and preparing technical collaboration agreement and incidental matters. Rs. 1,25,000/- & Above 4. Foreign Collaboration: Advising, obtaining RBI permission, drafting and preparing technical collaboration agreement and incidental matters(incl. Shareholders Agreement) Rs. 1,50,000/- & Above 5. Advising on Non Resident Taxation Matters including Double Tax Avoidance Agreements including FEMA Discretionary 6. Issuing Certificates for Deduction of Tax in respect of payments to Non-Residents including necessary consultations. Rs. 5,000/- & Above 7. Obtaining IEC Code No. Rs. 10,000/- 8. Licences for export Rs. 10,000/- for each licence 9. Project Report/Feasibility Report Discretionary 10. Preparation of bank loan certificate, CMA Rs. 10,000/- ( which is in addition to the council decision on revision of recommended scale of fee chargable for the work done by the members of the Institute).

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Ravi kumar...A Big Fan of Admi (Article Assistant) (622 Points)
Replied 23 June 2009

gooooood wrk

(Guest)

thisis all ok srividya but no one follows whaticai tells and even icai doesnotfollow it but anyways good workmyabe you like icai.

BALASUBRAMANYA B N (CCI STUDENT....) (44679 Points)
Replied 24 June 2009

gud work

(Guest)

Thanks for sharing it!!!! U always try to share soething new..Appreciate ur efforts..........Keep doing this!!!U rock!

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Prodyut Banerjee (Advocate) (309 Points)
Replied 25 June 2009

Good initiative by ICAI ( ICSI also tried the same few years back and theoritically it is still there) but who is going to pay????????????? (specially more than 75% of such assignments are handled by the advocates and at much lower fees). If really the Professional Institutes want to implement such things it can only be done by a single platform consisting of BCI, ICSI, ICAI and ICWAI but at the present scenario it seems to be impossible. Till then just keep thinking!!!!!!!!!!!!!!!!!!!!!!!!

Baji Shaik (CHARTERED ACCOUNTANT) (34 Points)
Replied 26 June 2009

good work keep it up

Abhinandan Jain (CA) (60 Points)
Replied 15 June 2010

Can you tell the source of above data???

jimit soni (-) (25 Points)
Replied 21 August 2012

who is a qualified assistant and a semi qualified assistant according to ICAI?

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