Minimum Fee Recommended by ICAI for Filing ITR and Other CA Services

The Institute of Chartered Accountants of India (ICAI) has provided guidelines for fees, Chartered Accountants (CAs) should charge for various professional services. This includes filing Income Tax Returns (ITR).

Partnership Deeds and Agreements

For creating a partnership deed recommended fee starts at Rs.15,000. If the partnership deed includes consultation and tax advisory fee increases to Rs.20,000 and above. For filing forms with the Registrar of Firms fee ranges from Rs.3,000 to Rs.7,000 per form. For modifications in the partnership deed, the fee is between Rs.6,000 and Rs.12,000.

Joint Development Agreements or Joint Venture Agreements have recommended fees starting from Rs.6,000 to Rs.12,000. For other legal documents. These include Power of Attorney, Will or Gift Deed, the fees range from Rs.3,000 to Rs.5,000.

Income Tax Return Filing

Filing ITR is mandatory for individuals and Hindu Undivided Families (HUFs). Fees for individuals vary, based on their income sources and city categories (Class A, B or C), the fees start at Rs.4,000, Rs.6,000 and Rs.8,000. This applies to salary earners and those with other sources of income.

For transactions involving shares and securities fee is Rs.11,000 for gains above Rs.8,000 and Rs.5,000 for other scenarios if there are fewer than 10 transactions. When there are more than 10 transactions, fees increase to Rs.17,000 for gains above Rs 12,000. For other situations, it is Rs.8,000.

Capital gains on immovable property must be reported if they exceed Rs. 32,000, with fees lowered for gains of Rs. 2,000 or Rs. 15,000. Returns involving the creation of bank summaries, capital accounts, and balance sheets require filing fees of Rs.12,000, Rs. 9,000, and Rs.6,000, respectively.

Partnership firms or sole proprietors seeking advisory services. They need to file returns if their income exceeds Rs.8,000, Rs.10,000 or Rs.15,000.

For private limited companies active companies are suggested to pay fees starting at Rs.25,000. Defunct companies should pay Rs.6000 to Rs.12,000. Public limited companies’ fees range from Rs.12000 to Rs.65,000 depending on their status. And activity level.

TDS/TCS Returns and Forms

The fees for filing forms and TDS/TCS returns vary based on the number of entries. Forms with up to 5 entries start at Rs.4,000. Those with more than 5 entries start at Rs.9,000. Services for Form No. 15-H/G and Form No. 49-A/49-B also start at Rs.4,000 per set.

All other forms filed under the Income Tax Act are similarly charged at Rs.4,000 or higher.

Certificates and Appeals

Obtaining a certificate from the Income Tax Department involves a fee of Rs.14,000 for amounts above Rs.10,000. For amounts above Rs.7,000, the fee is Rs.7,000. Filing appeals with the Income Tax Department at different fees. The First Appeal starts at Rs.32,000. The Second Appeal (Tribunal) starts at Rs.65000.

The ICAI’s recommended fee structure ensures Chartered Accountants are fairly compensated. It also maintains a standard across different regions. These guidelines help both CAs and clients. They understand the expected costs involved in various accounting and tax-related services.