Post Name : ICAI Chartered Accountant Scholarship and Fee Concessions 2024
Post Date : 01 February , 2024
Post Description : 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 2024
Take a look at the table below to grasp a better understanding of the Chartered Accountant Scholarship program. It will help you determine whether you meet the criteria for application. This straightforward guide aims to assist you in gauging your eligibility for this scholarship opportunity.
| ICAI Chartered Accountant Scholarship 2024 | ||||||
|---|---|---|---|---|---|---|
| S. No. | Categories | Students Type | Period of SCholarships (Months) | No. of Scholarships | Amount (P.m.) | Eligibility Criteria |
| Merit Scholarship | Final | Lessor of- 30 or Remaining period of Articleship | 10 (Min) | 2000/- | Students who got Rank – 1 to 10. Or in case of Rank 10th students continues to hold at 11th or 12th or so on, then all such students will be granted scholarship. |
| 2. | Merit – Cum Need Based | Final | Lessor of- 30 or Remaining period of Articleship | 30 | 1500/- | Other than Merit students covered above. Students whose name are appearing in merit list of IPC/Intermediate Examinations and parents income is not more than 150000 p.a. |
| 3. | Need Based & Weaker Section | Both for Inter and Final | For IPC/ Intermediate Student- 18 For Final Student- Lessor of- 30 or Remaining period of Articleship | 250 – Inter300 – Final Total – 550 | 1250/- | Whose parents income is not more than 100000 p.a. |
| 4. | Need Based Weaker section | Both for Final and Intermediate | For IPC/ Intermediate Student- 18 For Final Student- Lessor of- 30 or Remaining period of Articleship | As per Eligibility criteria | 1250/- | The deceased members of ICAI where financial assistance is provided to spouses of the deceased members from the Chartered Accountants Benevolent Fund (CABF) shall also be eligible for scholarship. |
| 5. | Sri Dhanraj Kanhaiyalal Dudheria Scholarship | Both for Final and Intermediate Students (For Karnataka State) | For IPC/ Intermediate Student- 18 For Final Student- Lessor of- 30 or Remaining period of Articleship | 16 | 1250/- | Students from karnataka of IPC/ Intermediate/ Final who need this Scholarship. |
| 6. | R.K. Khanna Memorial Scholarships Memorial Charitable Society | Both Final and Intermediate Students | For IPC/ Intermediate Student- 18 For Final Student- Lessor of- 30 or Remaining period of Articleship | 6 | 1250/- | Students of Intermediate / IPC/ Final who need this Scholarship. |
| 7. | J.S Lodha Memorial | Both Final and Intermediate Students | For IPC/ Intermediate Student- 18 For Final Student- Lessor of- 30 or Remaining period of Articleship | 6 | 1250/- | Students of Intermediate / IPC/ Final who need this Scholarship. |
| 8. | J.M. Sethia Charitable Trust Scholarships | Both Final and Intermediate Students | For IPC/ Intermediate Student- 18 For Final Student- Lessor of- 30 or Remaining period of Articleship | 6 | 1250/- | Students of Intermediate / IPC/ Final who need this Scholarship. |
| 9. | BCCO Foundation Scholarships | Both Final and Intermediate Students | For IPC/ Intermediate Student- 18 For Final Student- Lessor of- 30 or Remaining period of Articleship | 6 | 1250/- | Students of Intermediate / IPC/ Final who need this Scholarship |
Chartered Accountant Scholarship and Fee Concessions
Let’s delve into the details of the ICAI Chartered Accountant Scholarship and Fee Concessions. This overview will provide you with a clear and simple understanding of what these programs entail, making it easier for you to grasp the benefits and requirements involved in seeking financial support for your Chartered Accountancy journey.
1. Merit Scholarship:
This scholarship is exclusively for the top 10 students in the Intermediate/IPC examinations. If your name falls within ranks 1 to 10 (or extends beyond to 11, 12, and so forth due to ties), based on the Merit List of IPC/Intermediate Examinations held in May/November each year, you qualify for this 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.
This Merit Scholarship is a recognition of academic excellence, providing financial support to those who excel in their Chartered Accountancy profession.
2. Merit-Cum Need-Based Scholarship:
The Merit-Cum Need-Based Scholarship is designed for outstanding students based on both merit and financial need, excluding those already covered under the merit 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.
This scholarship aims to support deserving students who demonstrate both academic excellence and financial need in pursuing their Chartered Accountancy studies.
3. Need-Based and Weaker Section-based Scholarship:
This scholarship is dedicated to students with financial need, extending support beyond academic merit.
- 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.
This scholarship program aims to provide financial assistance to deserving students, ensuring inclusivity and support for those facing economic challenges.
4. Scholarships under the Endowment Schemes:
In addition to the mentioned scholarships, there are individuals or groups contributing to ICAI to offer additional scholarships based on financial need.
- 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.
These endowment schemes play a crucial role in expanding support for students pursuing Chartered Accountancy, ensuring a broader avenue of financial assistance beyond the established scholarship programs.
Chartered Accountant Scholarship 2024: Procurement of Scholarship Application Form
If you’re eligible, applying for the scholarship is simple. Complete and submit Form 3 & 4 initially, which can be downloaded from the Institute’s website. Additionally, Form 2 will be required to claim subsequent instalments.
Submission Details
Send the forms to:
The Director, Board of Studies,
The Institute of Chartered Accountants of India,
ICAI BHAWAN, A-29, Sector-62,
NOIDA-201309.
Application Deadlines:
- For the April Scholarship program, ensure your forms arrive by March 31st.
- For the October Scholarship program, submit before September 30th.
Stay informed by checking the ICAI website and the Student’s Journal for official announcements.
Therefore, the ICAI Chartered Accountant Scholarship and Fee Concessions for 2024 offer a crucial lifeline for students, blending merit recognition with financial support. The carefully outlined categories and straightforward application process ensure accessibility for those striving to achieve excellence in their CA journey.
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