The ICAI has suggested a range of charges for Tax audit-related services, starting at a minimum of Rs.1000 and rising to any level depending on the complexity of the work.
Reetu | Sep 25, 2023 |
Know Minimum Fee Tax Audit/Audit Fees recommended by ICAI to Chartered Accountants
The Institute of Chartered Accountants of India (ICAI) has suggested a range of charges for Tax audit-related services, starting at a minimum of Rs.1000 and rising to any level depending on the complexity of the work.
The fees mentioned above are proposed but not required for the benefit of Chartered Accountants. As part of its commitment to improving the capabilities of its practitioners, the ICAI’s Committee for Members in Practice (CMP) has revised the Minimum Recommended Scale of Fees for professional assignments performed by ICAI members.
This suggestion pertains to the fees that should be charged for a variety of professional assignments based on the services provided. Fees are proposed in three categories for cities classified as Class A, Class B, and Class C.
| Particulars | Revised Minimum Recommended Scale of Fees | ||
| Class ‘A’ Cities (Rs.) | Class ‘B’ Cities (Rs.) | Class ‘C’ Cities (Rs.) | |
| AUDIT AND OTHER ASSIGNMENTS | |||
| Rate per day would depend on the complexity of the work and the number of days spent by each person | |||
| (i) Principal | 18,000/-& Above per day | 12,000/ – & Above per day | 8,000/- & Above per day |
| (ii) Qualified Assistants | 10,000/-& Above per day | 7,000/- & Above per day | 5,000/- & Above per day |
| (iii) Semi Qualified Assistants | 5,000/- & Above per day | 4,000/-& Above per day | 3,000/- & Above per day |
| (iv) Other Assistants | 3,000/-& Above per day | 2,000/- & Above per day | 1,000/- & Above per day |
| Subject to minimum indicative Fees as under: | |||
| (i) Tax Audit | 40,000/-& Above | 30,000/- & Above | 22,000/- & Above |
| (ii) Company Audit | |||
| (a) Small Pvt. Ltd. Co. (Turnover up to Rs.2 crore) | 50,000/-& Above | 35,000/- & Above | 25,000/-& Above |
| (b) Medium Size Pvt. Ltd. Co./ Public Ud. Co. | 80,000/-& Above | 55,000/-& Above | 35,000/- & Above |
| (c) Large Size Pvt. Ltd. Co./ Public | See Note 1 | See Note 1 | See Note 1 |
| (iv) Review of TDS Compliance | 25,000/-& Above | 18,000/-& Above | 12,000/& Above |
| (v) Transfer Pricing Audit | See Note 1 | See Note 1 | See Note 1 |
Note 1: Fees should be charged depending on the complexities of the Assignment.
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