Doing Audit Assignments? Know ICAI’s Minimum Fee Fixed for CA Professionals
This is the minimum fee prescribed and it is not mandatory. The fee, a CA should charge the minimum fee prescribed and you can charge even more than that.
Are you a Chartered Accountant ( CA ) doing audit assignments? Are you getting the best payment for your services? Or do you feel that you’re charging below?, then this is for you.
With the help of ICAI (The Institute of Chartered Accountants of India) ’s minimum fee, you can charge your fee for audit assignments. The institute has detailed the separate fee for different classes of cities.
The following are the fees:
| Class A cities | Class B cities | Class C cities | |
| (i) Principal | 18,000/- & Above per day | 12,000/- & Above per | 8,000/- & Above per day |
| (ii) Qualified Assistants | 10,000/- & Above per day | 7,000/- & Above per | 5,000/- & Above per day |
| (iii) Semi Classified Assistants | 5,000/- & Above per day | 4,000/- & Above per day | 3000/- & above per day |
| (iv) Other Assistants | 3000/- & above per day | 2000/- & above per day | 1000/- & above per day |
There is also a clarification that, rate per day would depend on the complexity of the work and the number of days spent by each person.
| Class A cities | Class B cities | Class C cities | |
| (i) Tax Audit | 40,000/- & Above | 30,000/- & Above | 22,000/- & Above |
| (ii) Company Audit | |||
| 50,000/- & Above | 35,000/- & Above | 25,000/- & Above |
| 80,000/- & Above | 55,000/- & Above | 35,000/- & Above |
| Fees to be charged depending on the complexity and the time spent on the particular assignment. | Fees to be charged depending on the complexity and the time spent on the particular assignment. | Fees to be charged depending on the complexity and the time spent on the particular assignment. |
| (iii) Review of TDS Compliance | 25,000/- & above | 18,000/- & above | 12,000/- & above |
| (iv) Transfer Pricing Audit | Fees to be charged depending on the complexity and the time spent on the particular assignment. | Fees to be charged depending on the complexity and the time spent on the particular assignment. | Fees to be charged depending on the complexity and the time spent on the particular assignment. |
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