ICAI doubles stipend of students

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA

NOTIFICATION

New Delhi,the 23rd January, 2015

No. 1-CA(7)/167/2014.- Whereas certain draft regulations further to amend the Chartered Accountants Regulations, 1988, were published as required by sub-section (3) of section 30of the Chartered Accountants Act, 1949 (38 of 1949), in the Gazette of India, Extraordinary,Part III, Section 4, dated the 10th September, 2014, inviting objections and suggestions from persons likely to be affected thereby, before the expiry of forty-five days from the date on which the copies of the Gazette containing the said notification were made available to the public;

And whereas the copies of the said Gazette were made available to the public on the12th September, 2014;

And whereas the objections and suggestions received from the public on the said draft regulations have been considered by the Council of the Institute;

Now, therefore, in exercise of the powers conferred by sub-section (1) of section 30of the said Act, the Council, with the approval of the Central Government, hereby makes the following regulations further to amend the Chartered Accountants Regulations, 1988,namely:-

1.  (1) These regulations may be called the Chartered Accountants (First Amendment) Regulations, 2015.

(2) They shall come into force on the date of their final publication in the Official Gazette.

1. In the Chartered Accountants Regulations, 1988 (hereinafter referred to as the said regulations),-

(i) in regulation 28E, in sub-regulation (1), in clause (b), for the words “nine months”, the words “eight months” shall be substituted.

(ii) in regulation 48, in sub-regulation (1), for the Table, the following Table shall be substituted, namely:-

Table 

Classification of the normal place of service of the articled assistant	During the first year of training	During the second year of training	During the remaining period of training
(1)	(2)	(3)	(4)
(i) Cities/towns having a population    of  twenty lakhs and above.	Rs. 2000/-	Rs. 2500/-	Rs. 3000/-
(ii) Cities/towns having  a population           of    four lakhs and          above  but less      than     twenty lakhs.	Rs. 1500/-	Rs. 2000/-	Rs. 2500/-
(iii) Cities/towns having a population of less than four lakhs.	Rs. 1000/-	Rs. 1500/-	Rs. 2000/-

 (iii) in regulation 204, for the words “and International Trade Laws and World Trade Organisations” the words, “International Trade Laws and World Trade Organisation and International Taxation” shall be substituted.

[File No. 1-CA(7)/167 /2014]

Sd/-

V. Sagar

Acting Secretary