ICAI (Institute of Chartered Accountants of India) - Membership

[Asked by Guest]

Sir,

Whether ICAI Membership fee paid is valid for a Financial Year or a calendar Year or One year from the date of payment?

My membership number is allotted on 15/09/2016 on payment of Membership fee. For how long it is valid and when shall I pay Membership fee for second time?

[DR.MARIAPPAN GOVINDARAJAN]

You have to pay the annual membership for the financial year 2017 - 18 from 01.04.2017. Normally the Institute will give six months time to pay the fees. The fees paid by you on 15.09.2016 may for the previous financial year.

AI Summary

Membership fee validity: annual subscriptions follow the financial year, with a customary short grace period for payment.
ICAI membership subscriptions are treated as annual fees attributable to the financial year commencing 1 April; the Institute customarily grants a short grace period for payment, and a fee paid on 15 September 2016 was likely applied to the previous financial year rather than creating a one year term from the payment date.