Institute of Chartered Accountants of India

Dear Professional Colleague,

“Change is the only constant thing in this world” so goes the saying.

Amidst these challenging times, when world is grappling with the economic lockdown due to highly infectious decease of COVID-19 and there is growing threat to the mankind, we all are witnessing change in Financial Year and entering into new Financial Year 2020-21. My heartily congratulations to all of you on this very important occasion for professionals, businesses and industry at large. Despite all the concerns about the impact on world economies, I am sure we all will be able to overcome physical barriers and will be delivering our might with more vigor and strength. I wish new financial year to bring more prosperity, health and wealth for all and world will move out of standstill much faster than anticipated.

Option to Pay 10 Year Fee in one Go

As you are aware with the advent of new Financial Year, your Membership fee and Certificate of Practice (COP) fee for the year 2020-21 has become due and I am pleased to inform that from 01st April 2020, members are allowed to pay advance Membership and/or COP fee for a period up to maximum 10 years along with GST at the rate determined as on the date of payment. Benefit of this decision will be –

1. In case of any shortfall and/or in case of revision of fee in future, the member will not be responsible for the payment of balance amount and/or refund, as the case may be, and his/her name will not be removed from the register of members on account of shortfall/ revision of fees, and

2. An ACA who has paid advance membership fee for a certain period not exceeding 10 years and at a later stage, opted for FCA, then the member is only required to pay difference fee (the difference of fee in ACA to FCA) for the remaining period.

In our busy professional schedule and meeting deadlines, there is always a chance that payment deadline for yearly membership/COP fee could be missed unintentionally and in that direction, the above facility will ensure continuity of membership and your association with alma mater. I am sure you will utilize this facility.

Contribute for ICAI COVID-19 Relief Fund

With this instant communication, I would also request you to generously contribute to the “ICAI COVID-19 Relief Fund” in order to provide support to government initiatives so as to bolster necessary infrastructure and human ware to fight this epidemic. Remember, “The difference between a helping hand and an outstretched palm is a twist of the wrist” and we all should be thankful that today we are in a position to help others. With your support, more than Rs. 1 crore contribution has already been accumulated but much more needs to done. More details are available on https://www.icai.org/new_post.html?post_id=16403

Strengthen Chartered Accountants’ Benevolent Fund (CABF)

Further, strengthening of the Chartered Accountants’ Benevolent Fund (CABF) is always our top priority, since Fund supports the members in distress as well as the families of deceased members. In fact, it is responsibility of each of our professional colleague to come forward, take it as a social duty and contribute generously to the CABF so that the fund remains available to the families of our members in the time of distress. Please come forward and contribute to strengthen the fund. While paying your membership fee, don’t forget to contribute to the CABF also.

Today, world is facing extreme challenges and it is our moral and national duty to support all endeavors of the government, not just to follow advisories but encourage others for the same. I request you to take very good care of yourself and your family. I am sure that you all are taking suggested precautions, thus making a small but crucial contribution in preventing spread of the virus in our country.

All the best. Stay Safe, Stay Healthy!

With best regards,

CA. Atul Kumar Gupta
President ICAI

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