ICMAI releases Guidelines for Course Fee Waiver Scheme

ICMAI - Course Fee Waiver Scheme - Taxscan

The Institute of Cost Accountants of India (ICMAI) has released the guidelines for the Course Fee Waiver Scheme.

The Council of the Institute has granted a Course Fee Waiver Scheme in the form of scholarship to the aspiring CMA student at Intermediate/ Final level who unfortunately lost his/her father or mother or guardian due to COVID 19, who was the earning member of his/her family. This Scheme is titled “Course Fee Waiver Scheme for CMA Students Financially Affected due to COVID-19”.

The main objective of this scheme is to waive the Course Fee to the benefit of aspiring CMA students at the Intermediate/ Final level who have been financially affected because of the untimely death of their earning parent/guardian (in case of an adopted child whose parents are no more) due to COVID 19.

This guideline has been effective for the benefit of the students pursuing CMA Courses at the Intermediate/Final level on or after 28th June 2021. The duration of this scheme is initially for a period of 1 year from the date of notification, subject to review.

To be eligible for this scheme the income of the existing parent/guardian shall not exceed Rs.2 lacs per annum for the last financial year. Students claiming course fee waiver under the scheme should be unemployed and depend solely on the income of the parents/guardians.

Students who have registered/ to be registered themselves to the Intermediate Course of the Institute on or after 28th June 2021 Students who have enrolled/ to be enrolled themselves to the Final Course of the Institute on or after 28th June 2021 shall be eligible for the scheme. The Scheme will not be applicable for the students who have registered/enrolled before 28 June 2021 as per the records of the Institute.

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