ICAI Chartered Accountant Scholarship and Fee Concessions

 Chartered Accountant Scholarship: The Institute of Chartered Accountants of India (ICAI) offers scholarships to students in various categories, including Merit, Merit cum Need-based, and Need-based and Weaker Sections. These scholarships are awarded twice a year, aligning with the April and October exam sessions. Announcements regarding scholarships are typically made in March and September through the Students Journal and the official ICAI website.

ICAI Chartered Accountant Scholarship List 

Chartered Accountant Scholarship and Fee Concessions

1. Merit Scholarship:

• Amount: Successful candidates receive Rs 2000 per month.
• Eligibility: Students registered for the Final course who secured a rank between 1 to 10 in Intermediate Examinations are eligible.
• Claim Process: These students are automatically awarded the scholarship; no separate application is required.
• Duration: The scholarship is applicable for a maximum of 30 months or the remaining period of articleship, whichever is shorter.

2. Merit-Cum Need-Based Scholarship:

• Eligibility Criteria: Students with a parental total income not exceeding Rs 1,50,000 per month can apply.
• Merit List Requirement: Applicants should have their names listed in the merit list of Intermediate (IPC)/Intermediate Examinations.
• Financial Assistance: Successful applicants in this category will receive Rs 1500 per month.
• Duration: The maximum duration for this scholarship is 30 months or the remaining period of articleship, whichever is less.
• Total Scholarships: A total of 30 scholarships are awarded under this category, aiming to support deserving students in their Chartered Accountancy pursuits.

3. Need-Based and Weaker Section-based Scholarship:

• Eligibility Criteria:

• • Students of IPC/Intermediate or Final courses can apply.
  • Parental income should not exceed Rs 100,000 per month.

• Award Amount:

• • Selected students receive Rs 1250 per month.
  • Additional Rs 100 for ST/SC/OBC students on submission of attested documentary proof.

• Maximum Duration:

• • 18 months for IPC/Intermediate students.

• • 30 months or the remaining articleship period for CA Final students.

• Total Scholarships:

• • 550 scholarships in total: 250 for IPC/Intermediate students and 300 for Final students.

• • Two scholarships reserved for physically handicapped students.

• Application Process: Income certificate submission using Form no. 4 on the letterhead of the principal of the articleship (if applicable) or any ICAI member's letterhead.
• Special Consideration: Children of deceased ICAI members undergoing Intermediate or Final courses are eligible if financial assistance is provided to spouses from the Chartered Accountants Benevolent Fund (CABF).
• Discontinuation Clause: Scholarship payment stops if the student does not pass in two consecutive eligible attempts.

4. Scholarships under the Endowment Schemes:

• Individuals or groups donate to ICAI for these endowment schemes.
• Criteria for these scholarships align with the need-based scholarship, as detailed above.
• The aim is to provide further financial assistance to students facing economic challenges.

Chartered Accountant Scholarship Procurement of Application Form

Application Deadlines: 

• For the April Scholarship program, ensure your forms arrive by March 31st. 
• For the October Scholarship program, submit before September 30th.