The Committee for Members in Practice (CMP) of ICAI has prescribed the Revised Minimum Recommended Scale of Fees for the professional assignments done by the Chartered Accountants/ Members. However more Fees can be charged depending on the complexity and the time spent on the particular assignment.
As per ICAI guidelines, the Chartered Accountants are free to charge varying rates depending upon the nature and complexity of various professional assignment and time involved in completing the same. However, there should be no disagreement with the client on the actual fees charged in individual cases.
The amount of fee prescribed to be charged will be based on the location of the service provider. For the purpose, ICAI has categorized all the Indian cities into Class A, Class B & Class C and has recommended separate fee for each class of the cities.
The recommendation is about the fee to be charged as per the work performed for various professional assignments and the amount quoted under respective heads of professional work.
Office time spent in travelling & out-of-pocket expenses would be chargeable. Also, GST should be collected separately wherever applicable.
Further, ICAI has recommended that the bill for each service should be raised separately and immediately after the services are rendered.
ICAI has recommended minimum scale of prescribed fee in respect of following professional assignments:
1. Advising on Drafting of Deeds/ Agreements;
2. Income Tax (Filling of Return of Income, Filling of Forms, Certificate, Filling of Appeals, Assessments, etc.);
3. Registration/ Filings relating to Charitable Trusts;
4. Advisory/ Incorporation/ Filing work under Company/ LLP law;
5. Audit and Other professional Assignments (Statutory/ Tax/ TP Audit, TSD compliance, etc.;
6. Investigation, Management services and Special Assignments;
7. Certification work;
8. RERA compliance;
9. Consultation and Arbitration;
10. NBFC/ RBI matters;
11. GST (Registration/ Advisory/ Filings/ Audit, etc.);
12. FEMA matters;
13. Project Financing;
14. Accountancy Services; and
15. Other Services
Revised Minimum Professional Fee Scales/ Rates for Chartered Accountants (CAs) in Class A, B & C Cities dt. 11/02/2020