ICAI Articleship Stipend Revision Gets MCA In-Principle Approval; Final Rules Awaited
The Ministry of Corporate Affairs (MCA) has given in-principle approval to the stipend rates proposed by the Institute of Chartered Accountants of India (ICAI) for articled assistants undergoing two years of practical training under the New Scheme of Education and Training. The approval also covers the related draft amendments to the Chartered Accountants Regulations, 1988. ICAI disclosed this in a Board of Studies (Operations) announcement dated 6 July 2026. The revised rates are not yet in force: they apply only once the final amendment is notified with a commencement date.
Timeline of the proposal
| Date | Step |
|---|---|
| 25 June 2026 | Draft amendments published in Part III, Section 4 of the Gazette of India, Extraordinary |
| 4 July 2026 | Copies of the Gazette made available to the public |
| 6 July 2026 | ICAI announcement inviting public comments, noting MCA's in-principle approval |
| 5 August 2026 | Last date for suggestions and objections (30 days from 4 July 2026) |
| Awaited | Consideration by the ICAI Council and notification of the final amendment |
The legal process
The draft was published under Section 30(3) of the Chartered Accountants Act, 1949, which requires draft amendments to the regulations to be published for comments from persons likely to be affected. According to ICAI's announcement, stakeholders could send suggestions or objections by 5 August 2026 "for consideration of the Council". The comment window has closed, and the next step is the Council's review of the responses before the amendment is finalised and notified.
ICAI said the proposed stipend rates payable to articled assistants undergoing two years of articled training have been hosted on its website along with the draft Gazette notification. The announcement itself does not state the amounts. Figures circulating on social media or in commentary should not be treated as final until they appear in the notified amendment.
Why in-principle approval is not the final step
The MCA approval shows that the proposal has moved beyond an internal ICAI recommendation and has the government's backing at a preliminary stage. It does not change the amount legally payable for any month. A student checking whether a current stipend is short, or a firm revising payroll, should look at four separate dates: the Gazette draft (25 June 2026), ICAI's announcement (6 July 2026), the comment deadline (5 August 2026) and the effective date in the final notification. Only the last one decides when higher rates become payable.
What the current regulation provides
Stipend is governed by Regulation 48 of the Chartered Accountants Regulations, 1988. The rates reproduced on ICAI's website link the minimum monthly stipend to the population of the city where the articled assistant is trained and to the year of training:
| Population of city | First year | Second year | Third year and after |
|---|---|---|---|
| 20 lakh and above | Rs 2,000 | Rs 2,500 | Rs 3,000 |
| 4 lakh to 20 lakh | Rs 1,500 | Rs 2,000 | Rs 2,500 |
| Below 4 lakh | Rs 1,000 | Rs 1,500 | Rs 2,000 |
The regulation also provides that no stipend is payable for excess leave taken, that population is taken from the latest Census of India, and that stipend is paid by crossed cheque against a stamped receipt or by deposit into the articled assistant's bank account. These rates are minimums; firms can pay more.
Who the proposal covers
ICAI's announcement describes the proposed rates as payable to articled assistants undergoing two years of practical training under the New Scheme of Education and Training. Under the current table, such trainees fall only in the first-year and second-year columns. Whether the final amendment also changes the structure of the table, adds transitional provisions for articles already registered, or distinguishes between city classes will be known only from the notified text.
What students and firms should do now
- Articled assistants: keep training records and stipend receipts, and watch ICAI announcements for the final notification and its effective date. Until then, the existing Regulation 48 rates remain the legal minimum.
- Principals and firms: plan for a revision in payroll and articleship documentation, but apply new rates only from the date stated in the final notification.
- Both: rely on the Gazette notification and ICAI's official announcements rather than summaries when the final rates are released.
Updated on 27 September 2026: linked ICAI's 6 July 2026 announcement and Regulation 48, added a timeline table and the current minimum stipend rates, and noted that the final notification is still awaited.
