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Time of India
08-07-2025
- Business
- Time of India
ICAI boosts fund to support needy CA students to s 400 crore
Ahmedabad: The Institute of Chartered Accountants of India (ICAI) is committed to supporting every child in India who wishes to pursue chartered accountancy but faces financial or personal difficulties, said Ketan Saiya, chairman of the Western India Regional Council (WIRC) of ICAI. He said that any student in need can approach any ICAI branch for assistance. After proper verification, ICAI will offer all possible support to help them continue their CA studies. To strengthen this initiative, ICAI increased its education support fund from Rs 100 crore to Rs 400 crore this year. Additionally, ICAI is actively conducting career counselling programmes in districts across the country to promote awareness and opportunities in the CA profession. You Can Also Check: Ahmedabad AQI | Weather in Ahmedabad | Bank Holidays in Ahmedabad | Public Holidays in Ahmedabad Saiya also highlighted that ICAI submitted a proposal to the govt to simplify and reduce the number of Tax Deducted at Source (TDS) sections in the Income Tax Act to ease the burden on common citizens. In view of global economic growth, ICAI plans to open a new office at GIFT City in Gandhinagar. On July 10-11, over 100 CA students from across India will visit GIFT City to explore opportunities for their future careers. ICAI is also promoting AI awareness through certificate courses and launched several public welfare initiatives. These include cyberfraud awareness for housewives, MSME support, startup seminars, investor meets, and educational programmes for schoolgirls on safety awareness through the Bhairavi programme.
Time of India
06-06-2025
- Business
- Time of India
India will need 50L new CAs by 2050, says ICAI president
Vadodara: By 2050, India will require 50 lakh new chartered accountants (CAs) to support its rapidly expanding economy, said Charanjot Singh Nanda, president of the Institute of Chartered Accountants of India (ICAI), on Friday. Nanda was speaking at the inaugural session of a two-day national conference titled 'Veda Excellence', hosted by the Vadodara branch of ICAI's Western India Regional Council in collaboration with the Anand and Bharuch branches. "Currently, India has around 4.85 lakh registered CAs. With economic growth, the demand for qualified professionals will increase significantly," Nanda said. Highlighting ICAI's digital initiatives, he said the institute has provided students free access to ChatGPT and launched CA-GPT, an AI-powered tool that sources answers exclusively from ICAI's internal resources. "This tool has been widely appreciated for aiding professionals in areas like accounting, auditing, and taxation," he noted. Responding to the move by company secretary and cost accountant bodies seeking inclusion of their members in the definition of 'accountants', Nanda maintained that tax and other audits should remain the domain of CAs, as they are best equipped and trained for these responsibilities. Nanda also announced the launch of a certificate course on artificial intelligence — AI for CAs (Level 1) — aimed at helping professionals adapt to emerging technologies. The second level of the course will be launched soon, he added. The two-day conference in Vadodara will cover eight sessions, including those on technical and non-technical topics like direct and indirect taxes, capital market, and even work-life balance. Around 650 participants from across the country are participating in the conference. Vadodara: By 2050, India will require 50 lakh new chartered accountants (CAs) to support its rapidly expanding economy, said Charanjot Singh Nanda, president of the Institute of Chartered Accountants of India (ICAI), on Friday. Nanda was speaking at the inaugural session of a two-day national conference titled 'Veda Excellence', hosted by the Vadodara branch of ICAI's Western India Regional Council in collaboration with the Anand and Bharuch branches. "Currently, India has around 4.85 lakh registered CAs. With economic growth, the demand for qualified professionals will increase significantly," Nanda said. Highlighting ICAI's digital initiatives, he said the institute has provided students free access to ChatGPT and launched CA-GPT, an AI-powered tool that sources answers exclusively from ICAI's internal resources. "This tool has been widely appreciated for aiding professionals in areas like accounting, auditing, and taxation," he noted. Responding to the move by company secretary and cost accountant bodies seeking inclusion of their members in the definition of 'accountants', Nanda maintained that tax and other audits should remain the domain of CAs, as they are best equipped and trained for these responsibilities. Nanda also announced the launch of a certificate course on artificial intelligence — AI for CAs (Level 1) — aimed at helping professionals adapt to emerging technologies. The second level of the course will be launched soon, he added. The two-day conference in Vadodara will cover eight sessions, including those on technical and non-technical topics like direct and indirect taxes, capital market, and even work-life balance. Around 650 participants from across the country are participating in the conference. Get the latest lifestyle updates on Times of India, along with Eid wishes , messages , and quotes !
