« Top Headlines » Open DEMAT Account in 24 hrs  Delhi HC Rules GST Registration Cannot Be Cancelled Retrospectively Without a Clear Show Cause Notice (SCN)  Belated income tax return AY 2026-27: How to file, late filing charges and what you may lose  Major Financial Changes from August 1, 2026: ITR Deadline, RBI MPC Meeting, Tatkal Ticket Rules & More  Government proposes to ease tax relief conditions for offshore funds  TallyPrime Connected Banking: Automating Banking and Accounting  ITR Filing Deadline 2026: Is July 31 the Last Date to File Your Income Tax Return? Latest Official Update  ITR filing deadline nears: How to file income tax return online on e-filing portal - quick 15-step guide  Will the ITR Filing Deadline Be Extended Beyond July 31 for FY 2025-26? Here's the Latest Update for Taxpayers  Income Tax Refund Delayed for AY 2026-27? 5 Common Reasons Your Refund May Be Stuck and How to Fix It  ITR Filing 2026: FM Nirmala Sitharaman Asks Tax Officials to Let Honest Taxpayers Correct Genuine Mistakes  Will Your FCNR Deposit Stay Tax-Free After Returning to India? Tax Rules Explained for NRIs «  ITAT directs Bachchan duo to cough up tax on Maruti Versa... Fixed assets and earnings management... » Corporates lure CAs with fatter salaries January, 08th 2007 The demand for chartered accountants (CAs) in the corporate world has shot up with stringent income tax laws which require compulsory maintenance of accounts by specified categories of taxpayers.    Around 102 companies from the information technology, business process outsourcing, financial services and manufacturing sectors came recruiting when campus interviews were organised by ICAI at 11 centres across the country during 2005.    Average salary levels during the placement shot up by 50 per cent from Rs 2 lakh per annum to Rs 4lakh. The highest salary offered was Rs 12 lakh.    The Institute of Chartered Accountants of India (ICAI) churned out 8,000 CAs last year, of which 84 per cent has been placed in companies.    What's the reason for this trend? Explains T N Manoharan ICAI president. "Fresh passouts prefer the corporate sector to begin their career since it is less riskier than setting up an independent practice and the remuneration on offer is just too attractive to refuse."    The ICAI training equips CAs to prepare the returns for tax purposes and represent assessees before the income tax authorities and this has spurred the demand for accountants.    Manoharan notes there is a huge demand for CAs abroad too but with the demand picking up in India, migration of CAs to foreign lands has declined considerably. Currently, there are 12,000 CAs from India employed In corporates abroad.    Under the current laws, Indian CAs are not allowed to set up practice in foreign countries. ICAI is however negotiating with countries including Singapore, US, UK and Australia to allow Indian CAs to set up practice in that country, Manoharan said.    However, ICAI states there is an acute shortage of CAs in India and corporates are increasingly finding it difficult to find qualified CAs.    Proof of this is the fact that during last year's campus placement in ICAI, corporates managed to recruit just 1,034 CAs of the 8,000 CAs who passed the examination, as the rest had already found jobs in corporates outside the placement process.