CAs work in four major domains:
- Applied Finance
- Financial Accounting and Reporting
- Management Accounting
- Taxation
Their responsibilities may include filing taxes and auditing financial statements. The Chartered Accountants are renowned for their expertise and integrity. They are pivotal to the financial world and offer the following major services:
- Auditing Financial Records
- Filing Corporate Tax Returns
- Financial Advisory
- Tax Planning and Consulting
- Financial Reporting
CAs work across diverse sectors, including private practice, corporate finance, auditing, taxation, business management, forensic accountancy, and entrepreneurship.
In India, the Institute of Chartered Accountants of India (ICAI) is the governing body that certifies the Chartered Accountants.
Who Can Become a Chartered Accountant (CA)?
In order to become a Chartered Accountant (CA) in India, the applicants need to qualify and complete a series of exams, gain practical experience, and earn a Bachelor’s degree. The entire process to become a CA usually takes 4.5 to 5 years.
- Selecting a commerce stream to pursue a course in accountancy, economics, or business studies to prepare for CA studies.
- Earn a Bachelor’s degree in accounting, finance, or a related field.
- Enroll in a CA program and register for the CA Foundation course through the Institute of Chartered Accountants of India (ICAI).
- Applicants need to qualify the CA Foundation exams that are held twice a year, usually in the months of May and November.
- Register and complete the CA Intermediate course after having passed the CA Foundation exams.
- Register for a three-year Articleship or training program under the guidance of a practicing Chartered Accountant (CA).
- The applicants need to pass the CA Final exams after having completed the Articleship.
- In order to become an ICAI member after having qualified for the CA Final exam, the applicants need to register themselves as an ICAI member to become a licensed CA.
- The cost of the CA course at a reputable coaching institute is between 2 lakh and 2.5 lakh or more.
Top CA Scholarships India
Top CA Scholarships in India: ICAI Scholarship Scheme for CA Students
The ICAI Scholarship Scheme for CA Students aims to extend financial aid to aspiring Chartered Accountants in India. It is determined by need and merit. This program is intended for students enrolled in the CA program and offers a range of scholarships that address various eligibility requirements, such as financial situation and academic achievement. Students enrolled in both Intermediate and Final courses are eligible for the scholarships. The details of this CA scholarship are listed below:
| Scholarships | Eligibility Criteria | Award | Duration |
| Need-Based for Economically Weaker Intermediate Students | Students who are registered for intermediate course either through Foundation Route or Direct Entry Route
Annual family income of applicants should not exceed ₹3,00,000 per annum |
₹1500 per month | 9 months commencing from the month of registration for Intermediate Course
Additional 3 months if the student has completed the Orientation Course within 12 months of registration for Intermediate Course. Additional 3 months if the student has passed any one group in Intermediate Examination within 12 months of registration for Intermediate course. |
| Need-Based for Economically Weaker Students in Final Course | Students who are registered for Final Course.
|
₹1500 per month | 30 months or remaining period of Articleship (whichever is less) |
| Merit-cum-Need Based Scholarship | Rank holders of Intermediate examinations other than those covered under Merit Scholarship.
Students must register for Final Course before applying. Annual family income of the applicants should not exceed ₹3,00,000 per annum |
₹2000 per month | 30 months or remaining period of Articleship (whichever is less) |
| Merit Scholarship | Rank holders of Intermediate examinations that appear on SI No. 1 to 10
Student must register for Final Course before applying |
₹2500 per month | 30 months or remaining period of Articleship (whichever is less) |
How to Apply?
- To apply for this scholarship, students have to first login via the Self Service Portal.
- The applicants need to choose the scholarship application form. Their information is auto populated in the form.
- They need to fill in their bank account details along with their parents annual income and then submit the form.
- For students registered for Articleship, the Principal will approve the Annual Income Certificate of their parents. In case of other students, the Annual Income certificate of parents is approved by a Member chosen by the applicants. Once approved, the applicants will receive an email.
*Click here for more details.
(Note: The scholarship amount will be disbursed to the student account after the final selection.)
ICAI Doctoral Scholarship Scheme
The ICAI Doctoral Scholarship Scheme is an initiative launched by the Research Committee of the Institute of Chartered Accountants of India (ICAI) to promote advanced research in the field of chartered accountancy. This scheme supports doctoral candidates who are pursuing research that contributes to the field of accounting and finance.
Eligibility Criteria:
- Applicants should be a member of ICAI.
- Applicant’s age should be less than 40 years on the date of application.
- Candidate shall be a full time student at the University/College/Institution while pursuing PhD.
How to Apply?
Candidates applying for this scholarship have to send their relevant documents (as mentioned in the application form) along with the research proposal (3000 words) and abstract (300 words) to the Secretary of Research Committee, The Institute of Chartered Accountants of India.
Number of Scholarships and Award:
The selected scholars will receive an amount of ₹75,000 per month for a maximum period of 3 years.
As many as 5 scholars are sponsored annually.
*Click here for more details regarding the scholarship topics and the procedure of award.
Adani Gyan Jyoti Scholarship for CA Students
The Adani Gyan Jyoti Scholarship for CA Students is an initiative of the Adani group that extends financial aid to first year students pursuing a B.Com degree alongside the Chartered Accountancy (CA) course. This scholarship offers up to ₹70,000 annually to students from economically disadvantaged backgrounds.
Eligibility Criteria:
- Students pursuing graduation in any year in any of the states across India.
- Applicants who are the domiciled residents of Andhra Pradesh, Rajasthan, Gujarat, Odisha, and Chhattisgarh.
- Applicants who have cleared CA foundation (ICAI) in 2023 or later.
- Students who have cleared the entrance level examination of ICAI.
- The annual family income of applicants must not exceed ₹4,50,000 from all sources combined.
Scholarship Award
This scholarship covers an annual tuition fee of up to ₹70,000 annually.
Documents Required:
- Government-issued identity proof (Aadhaar card/voter ID card/driving license/PAN card) of the applicant.
- Proof of family income (income certificate/salary slips for last 3 months/IT Return Form)
- Recent photograph of the applicant
- Bank account details
- Class 12th and previous year marksheet
- Entrance exam rank certificate
- Counselling letter for seat allotment
- Bonafide certificate and fee structure for the course issued by the college
- Parent’s or guardian’s declaration
*Click here to apply now!
Shree Maheshwari Foundation Higher Education Scholarships 2024
Shree Maheshwari Foundation Higher Education Scholarships is available to students who have completed their previous semester/year of B.A., B.Com., B.B.A., M.B.A., and CA Inter (as applicable) Examinations from a recognised university or the Institute of Chartered Accountants of India (ICAI). The scholarship aims to help economically disadvantaged individuals meet their basic needs.
This scholarship is offered under the following three programmes:
- Shri B.C. Maheshwari (H.E.) Memorial Scholarship (for male students)
- Smt. Sugan Devi Maheshwari (H.E.) Memorial Scholarship (for female students only)
- Mrs. Rukmani Maheshwari Memorial Scholarship (for children of all army or police personnel who were killed while performing their responsibilities)
Eligibility Criteria:
- The applicants should have completed and cleared the previous semester/year of B.A., B.Com., B.B.A, M.B.A, and CA Inter or relevant examinations from a recognised university/ICAI in their first attempt.
- Their gross annual family income should not exceed ₹5,00,000.
How to Apply?
To apply for this scholarship, students have to fill in the offline application form for higher education scholarships. They also have to provide a declaration duly signed by their parents/guardian along with a verification signed by the Dean/Principal of their current university/college or employer. In addition, they also have to submit the documents asked for. They can send these documents via mail or as hard copies to the Foundation’s address provided below.
Email Id: shreemaheshwarifoundation@gmail.com; dias@dias.ac.in
Foundation Address: A-2/156, Paschim Vihar, New Delhi – 110063
Tel. No. 011- 42321528
Documents Required:
- Annual Gross Income Certificate
- University/Institute of Chartered Accountants of India (ICAI) Enrolment Certificate.
- Attested copies of the marksheets of class 10, class 12, previous semester/year BA/BBA/B. Com./MBA examination/CA Inter/ Graduation (as may be relevant).
- Recommendation of Dean/Principal/Director of the concerned University or School of Studies/Affiliated College or employer (for students of ICAI).
- Copy of receipt of last fee deposited in the University/College/ICAI.
- A certificate from relevant Competent Army/Police Authorities that the applicant is eligible for the reserved category scholarship in case one applies for that category.
Scholarship Benefits:
The selected students will receive financial support of ₹5,000 per semester. Students pursuing studies in CA final will receive ₹10,000 in two equal installments for a year.
*Click here to know more.
Scholarships for Students from Scheduled Castes (SC) and Economically Backward Communities
Scholarships are being offered to economically weaker students pursuing CA, CMA, and CS courses. These scholarships aim to support students from Scheduled Castes (SC) and economically backward communities by providing 100% assistance with their course fees. Eligible students are advised to submit their applications via the official website of the Kerala SC Development Department.
Eligibility Criteria:
- Only the students enrolled in Intermediate or Final stages of CA, CMA, or CS courses are eligible for this scheme.
- Applicants must belong to the State of Kerala.
- They must provide a valid SC/ST caste certificate.
- The annual income of the applicant’s family must not exceed ₹2.5 lakh.
- Applicants must be enrolled in courses at the institutions recognized by ICAI, ICMAI, or ICSI.
- Applicants must submit the acknowledgment letter showing the payment of fees or registration.
Required Documents:
- Acknowledgment letter for payment of fees/registration from ICAI, ICMAI, or ICSI
- Community certificate from the relevant authorities
- Proof of family income (not exceeding ₹2.5 lakh)
- Scanned copies of educational certificates
- Any other supporting documents required by the scholarship authority.
Registration on e-grantz Portal
Applicants should ensure they are registered on the e-grantz 3.0 portal with updated information. Applications submitted without the applicant’s bank account details on the e-grantz portal will not be considered.
Submission Process
Applicants should upload all the necessary documents on the e-grantz portal. If any discrepancies are found during the verification process, the claim will be rejected. The scholarship amount will be directly transferred to the applicant’s bank account after approval.
P M Foundation Scholarship For CA/CS/ICWA
The P M Foundation, founded in 1988 by Dr. P. Mohamed Ali, is a philanthropic initiative dedicated to recognising academic excellence and helping deserving students from Kerala. The P.M. Foundation’s primary aim is to raise the level of excellence and inspire young men and women to pursue ambitious goals that will serve as inspiration for future generations. The program offers financial assistance to students pursuing various professional degrees, promoting quality and merit.
Eligibility Criteria:
- The applicants should be a resident of the State of Kerala belonging to the minority groups.
- They must have secured at least 60% in the last qualifying examination.
- Their annual family income should not exceed ₹8 lakh.
- This grant is valid for Master’s programs in Chartered Accountancy (CA), Company Secretary (CS), and Cost and Works Accounts (CMA).
Required Documents:
- Recent passport size photo
- Identity proof documents (Aadhar Card/PAN Card/Voter Card)
- SSLC/Plus 2/VHSE marksheet
- Domicile and income certificate
- Bank account details
- Previous year marksheet
- CA/CS/ICWA (CMA) admission receipt
- Intermediate Course Certificate
- Graduation certificate
- Community certificate
How to Apply?
To apply, students have to visit the official website and register first. They can then login, fill in their details and apply for the scholarship.
Scholarship Award
The scholarship will cover their tuition fees and other miscellaneous expenses (books, materials) annually.
Top Study Abroad CA Scholarships for Indian Students
There are several scholarship opportunities available to Indian students who are willing to pursue Chartered Accountancy (CA) or related finance and accounting degrees overseas. Here is a carefully compiled list of some of the top choices:
Inlaks Shivdasani Foundation Scholarships
The Inlaks Shivdasani Foundation Scholarships supports Indian citizens under the age of 30 who have been accepted into major international universities for full-time Master’s, M.Phil, or doctorate programs. These students should have secured a minimum grade of 65% (or an equivalent) from a recognised institution in India. It covers tuition fee and the cost incurred on living expenses, and one-way flight ticket. It covers students from all academic fields, including finance and accounting. Eligible individuals can improve their academic and career chances overseas. The application window normally remains open from January to April each year.
Application link – https://inlaksfoundation.org/opportunities/scholarship/
Fulbright-Nehru Master’s Fellowships
The Fulbright-Nehru Master’s Fellowships are awarded to Indian students willing to pursue a Master’s degree program at select US colleges and universities including the field of business, accounting and finance. These fellowships are meant for those individuals who demonstrate leadership qualities, have completed the equivalent of a US bachelor’s degree and have at least three years professional work experience.
Eligibility Criteria
- The applicants must have completed an equivalent of a U.S. Bachelor’s degree from a recognised Indian university with at least 55% marks.
- They must either possess a four-year Bachelor’s degree or a completed Master’s degree or a full-time postgraduate diploma from a recognised Indian institution, if the Bachelor’s degree is of duration of less than four years.
- The applicants must have a full-time and paid professional work experience of at least three years relevant to the proposed field of study by the application deadline.
- They should be able to demonstrate experience in leadership and community service.
- They must not have secured another degree from a U.S. university or be enrolled in a U.S. degree program.
Fellowship Benefits:
- The fellowship provides J-1 visa support
- Round-trip economy class air travel from fellow’s home city to the host institution in the US
- Funding for tuition and fees
- Living and related costs
- Accident and sickness coverage per US Government guidelines
Application link: https://apply.iie.org/ffsp2025/
Australia Awards Scholarships
The Australia Awards Scholarships support students from developing nations including India who want to pursue postgraduate studies in Australia in the field of business, finance and accounting. The details are as under:
- It provides comprehensive financial support by covering tuition fees, living allowances, airfare, and health insurance.
- The application window usually remains open from February to May every year.
- The scholars who accept the award will have to sign a contract with the Commonwealth of Australia declaring that they will comply with the conditions of the scholarship.
- In addition, scholars will have to leave Australia for a minimum of two years after having completed their education. Failure to do so will result in the scholar incurring a debt for the total accrued cost of their scholarship.
- Click here for more details about the scholarships.
JN Tata Endowment for Higher Education
The JN Tata Endowment for Higher Education offers loan scholarships to Indian students pursuing postgraduate or professional education abroad with a funding of up to ₹10,00,000. Major details are as under:
- Students from all academic disciplines, including accounting and finance are eligible.
- They should be below 45 years.
- The applicants must have completed their graduation from a recognised university in India with at least 60% marks.
- The application window normally runs from December to March each year and is a great opportunity for them to support their educational endeavours overseas.
Top CA Scholarships in India: FAQs
Why are scholarships important for students pursuing Chartered Accountancy (CA)?
Scholarships play a vital role in supporting CA students by reducing the financial burden of their education. Pursuing a CA qualification involves significant expenses, including tuition fees, coaching costs, and exam fees, which can amount to ₹2 to 2.5 lakh or more. Scholarships offered by government bodies, private organisations, and professional institutions provide financial assistance, reward academic excellence, and help aspiring students focus on their studies without financial constraints.
What are the primary areas in which the Chartered Accountants (CAs) work?
Chartered Accountants work in the following major domains:
- Applied Finance
- Financial Accounting and Reporting
- Management Accounting
- Taxation
They also perform key responsibilities like auditing financial records, filing corporate tax returns, providing financial advisory, tax planning, consulting, and preparing financial reports. Their expertise makes them essential in diverse sectors, including corporate finance, private practice, auditing, and entrepreneurship.
What are the pre-requisite steps required to become a Chartered Accountant (CA) in India?
To become a CA in India, applicants need to adhere to the following:
- Select Commerce Stream: Pursue accountancy or business studies in school.
- Earn a Bachelor’s Degree: Obtain a degree in accounting, finance, or a related field.
- Register for CA Foundation: Enroll in the course through the ICAI.
- Pass the Foundation Exam: Conducted twice a year, in May and November.
- Complete CA Intermediate Course: After clearing the Foundation exam.
- Articleship Training: Undertake three years of practical training under a practicing CA.
- Pass the CA Final Exam: After completing the Articleship.
- ICAI Membership: Register as a member to be licensed as a CA.
What financial challenges do CA students face during their studies?
CA students often face financial challenges due to the high costs associated with the course. These include tuition fees, registration fees, coaching classes, and exam fees, which can collectively amount to ₹2-2.5 lakhs or more. Scholarships, such as those offered by the ICAI and private organisations, alleviate these financial pressures, making education accessible to students hailing from economically weaker sections.
What is the role of the Institute of Chartered Accountants of India (ICAI)?
The Institute of Chartered Accountants of India (ICAI) is the governing body that certifies Chartered Accountants in India. It oversees the CA qualification process, including conducting exams (Foundation, Intermediate, and Final), regulating Articleship training, and granting memberships. ICAI ensures that CAs adhere to professional standards, contributing to their reputation for expertise and integrity in the financial sector.
Do CA students get scholarships?
Yes, there are a number of scholarships meant for students willing to pursue Chartered Accountancy in India and abroad. These include Fulbright-Nehru Master’s Fellowships, Adani Gyan Jyoti Scholarship, ICAI Scholarship Scheme, ICAI Doctoral Scholarship Scheme, Australia Awards Scholarship, etc. to name a few. It must be pointed out that those scholarship programmes offering financial assistance for pursuing professional education are equally applicable for the CA students and therefore the applicants must explore these alternatives.
What is the ICAI Doctoral Scholarship Scheme, and what does it aim to achieve?
The ICAI Doctoral Scholarship Scheme, introduced by the Research Committee of the Institute of Chartered Accountants of India (ICAI), is designed to promote advanced research in the field of chartered accountancy. The scheme provides financial support to doctoral candidates conducting research in accounting and finance to encourage scholarly contributions to the profession.
What are the benefits available for CA students under the scholarship offered by Shree Maheshwari Foundation?
For CA students, Shree Maheshwari Foundation provides scholarships worth ₹10,000 annually, that are paid out in two equal installments. The grant is intended to help deserving students from low-income backgrounds to pursue their studies in chartered accounting.
Which countries outside India are best for CA studies?
Countries like USA, UK, Australia, Canada, New Zealand etc. are most suitable for pursuing CA studies abroad.
What are the eligibility criteria for applying to the ICAI Doctoral Scholarship Scheme?
To be eligible for the ICAI Doctoral Scholarship Scheme, applicants must meet the following criteria:
- Be a member of ICAI.
- Be under the age of 40 years on the date of application.
- Be a full-time student enrolled in a recognized university, college, or institution while pursuing a PhD.
What kind of financial support does the ICAI Doctoral Scholarship Scheme provide, and how many scholarships are awarded annually?
The ICAI Doctoral Scholarship Scheme offers selected scholars ₹75,000 per month for a maximum period of 3 years. Annually, a total of 5 scholarships are awarded under this scheme.