The cost of pursuing Chartered Accountancy (CA) in Mumbai varies depending on the level of the course and the coaching institute chosen. Here’s a breakdown of the typical fees associated with each stage of the CA program:
1. CA Foundation Course Fees
- Registration Fees: The Institute of Chartered Accountants of India (ICAI) charges a registration fee for the CA Foundation course, which is typically around INR 9,000.
- Coaching Classes: Fees for coaching classes in Mumbai can range from INR 30,000 to INR 50,000, depending on the reputation and quality of the institute. Some well-known coaching centers may charge even higher.
2. CA Intermediate Course Fees
- Registration Fees: For the CA Intermediate course, the ICAI registration fee is approximately INR 18,000 for both groups, or around INR 13,000 for a single group.
- Coaching Classes: The cost of coaching classes for the CA Intermediate level in Mumbai can vary significantly. Generally, it ranges from INR 50,000 to INR 80,000 per group. If a student opts to prepare for both groups simultaneously, the fees can be around INR 1,00,000 to INR 1,50,000.
3. CA Final Course Fees
- Registration Fees: The registration fee for the CA Final course through ICAI is approximately INR 22,000.
- Coaching Classes: The fees for CA Final coaching classes are higher, given the advanced level of study. Typically, fees range from INR 50,000 to INR 1,50,000, depending on the institute. Some renowned institutes in Mumbai may charge more for comprehensive coaching packages that include all subjects.
4. Additional Costs
- Study Materials and Books: While some institutes include the cost of study materials in their course fees, others may charge extra. The cost for books and study materials can range from INR 5,000 to INR 10,000 per course level.
- Examination Fees: ICAI charges examination fees for each level. As of the latest updates:
- CA Foundation: Around INR 1,500.
- CA Intermediate: Approximately INR 2,700 for a single group and INR 3,300 for both groups.
- CA Final: Around INR 3,300 for both groups.
5. Other Costs
- Articleship Stipend: During the mandatory articleship, students may receive a stipend, which can help offset some costs. Stipends typically range from INR 2,000 to INR 10,000 per month, depending on the firm and location.
- Miscellaneous Expenses: Living costs, travel, and other personal expenses in Mumbai can add to the overall cost of pursuing CA.
Conclusion
Pursuing a CA in Mumbai requires a significant financial commitment, with total costs ranging from INR 1,50,000 to INR 3,00,000 or more, depending on various factors like coaching institute, course level, and personal expenses. However, the investment is often considered worthwhile, given the promising career prospects and earning potential of qualified Chartered Accountants.
