The Institute of Chartered Accountants of India (ICAI), through its Ethical Standards Board, announced on July 25, 2026, that the ICAI Council has approved an increase in the time limit for the transfer of goodwill of a proprietary firm of a deceased member from one year to three years from the date of the member’s death. Accordingly, the time limit of one year shall be read as three years in the provisions relating to goodwill appearing in the Code of Ethics, 2026, Volume I.
The Institute of Chartered Accountants of India
Ethical Standards Board
The Institute of Chartered Accountants of India
July 25, 2026
Announcement
Increase in the time limit for transfer of Goodwill of a proprietary firm of a deceased member from one year to three years
The Council of the ICAI has approved an increase in the time limit for transfer of goodwill of a proprietary firm of a deceased member from one year to three years from the date of death of the member.
Accordingly, the time limit of one year shall be read as three years in the provisions relating to goodwill appearing in the Code of Ethics, 2026, Volume I.
Secretary, ICAI
