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Benefits for Members in Practice by Committee for Members in Practice (CMP) by ICAI

Hello Professional Colleagues and Dear Friends,

Greetings of the Day!!!

Committee for Members in Practice (CMP) by ICAI is providing so many benefits for Chartered Accountants of ICAI who are in Practice, but many of us are not aware about this. The only purpose to write this Blog is to share knowledge and awareness about the benefits available to us and to encourage Members to take benefits of the same. It drastically reduced our cost as all the tie-ups are made at PAN-India Level with the Branded companies/Corporations.

List of Benefits which are currently available to Members in practice are as follows:

1. LIC Term Insurance:

The Committee arranged in the form of specially designed Group Term Insurance through the LIC for Members of ICAI. The Term Insurance policy will cover death due to any reason.

The salient features of the scheme are available at

2. Personal Accident Insurance for Members of ICAI:

The Committee arranged in the form of specially designed Personal Accident Insurance through the New India Assurance Company Limited, Mumbai for Members& Students of ICAI. The Personal Accident Insurance policy will cover Death/Permanent Total Disability, loss of Limb(s) & Permanent Partial Disability including reimbursement of hospitalization expense.

3. Medical Insurance:

The Committee arranged in the form of specially designed Personal Accident Insurance through the New India Assurance Company Limited. This covers medical expenditure in case of Hospitalization like Mediclaim. This plan is really at so much discounted price.

4. Professional Indemnity Insurance for Members & CA Firms of ICAI:

The Committee has arranged insurance protection for members in practice/firms in the form of specially designed professional indemnity insurance at a reasonable premium i.e. 85% discount in market rate. The scheme is for the Members in practice/ Firms of the ICAI.

5. Motor Vehicle Insurance for Members of ICAI:

A MOU with New India Assurance Co. Ltd for Motor Vehicle Insurance arranged by the Committee. The Motor Vehicle Insurance is basically designed for the members but also has been extended to the employees of ICAI. The Motor Vehicle Insurance for which MOU is being executed has value added features such as Unique Offer of 65% discount on OD for both Private car and two Wheeler etc. Members may purchase the Motor Vehicle Insurance Policy online at the website.

6. Householder’s Insurance for Members of ICAI:

The CCBMP arranged in the form of specially designed Householder’s Insurance through the New India Assurance Company Limited, New Delhi for Members of ICAI. The Householder’s Insurance policy will cover insurance of building and contents against fire & allied perils inclusive STFI & EQ, housebreaking including larceny & theft, jewellery & valuables, employers liability (WC) on annual wages etc.

7. Tally ERP 9 Gold Edition:

ICAI along with Tally has worked out a special pricing for Tally.ERP 9 Gold Edition ( Multi-User version ). The same shall be governed by a set of principles and guidelines. Some key highlights of the special limited period offer.


80% discount on Tally.ERP 9 Gold is applicable for all full-time practicing CAs/CA firms for purchases made before 31st May 2020, post which a 50% discount is applicable

80% discount on Tally.ERP 9 Gold continues to be applicable for CAs setting up practice newly (who have enrolled for practice on or after 1st January 2018) to encourage them in the beginning of their professional journey

50% discount is applicable on Tally Software Services (TSS) renewals for licenses purchased under any special CA schemes from Tally

Detailed Terms and conditions are available on the website

8. ‘Tax Cloud’ software – A web based ITR & TDS Return Preparation:

The Committee has arranged the ‘Tax Cloud’ software on Web based ITR & TDS Return Preparation for Practiced Chartered Accountants & CA Firms of ICAI. The aforesaid software is free of cost for 2 financial years to the Practitioners & CA Firms. Please visit the website, for web based IT return & e-TDS return. The aforesaid software enables Income Tax Return and TDS Return preparation, provides all types of assesses support including Individuals, HUFs, Firms and Companies, calculates Income Tax under all heads such as Salary, House Property, Capital Gain, Business and Profession, Other and Exempt Income Heads, generates detailed computation of Income Tax Returns, PDF for paper filing and XML for e-Filing, automatic data backup every night for CAs for cloud servers.

9. Practice Management Software for members in practice & CA Firms of ICAI:

The Committee has arranged the practice management software for members in practice / firms, in form of cloud software designed for managing the Professional Practice in an effective way. The scope and function of aforesaid software Assignment management – Long duration, Assignment Management – Short duration, Work allocation and tracking, Timesheet recording, Variance and Profitability analysis, Leave management, Expense management, Meeting management, Mobile based GPRS based attendance management, Mobile app and portal based system, Customer Relationship Management (CRM), Invoicing, Collection Management, BI and Analytics tool.

10. Antivirus Protection Facility:

The Capacity Building of Members in Practice (CCBMP), ICAI in order to enable members to have access to antivirus software, has tied up with Quick Heal technologies Pvt. Ltd. Pune for providing access to Quick Heal Total Security at a special discounted price of Rs. 1200/- plus applicable taxes from January 1, 2018 to December 31, 2020 for single user for a period of 3 years for the Members & students of ICAI.

The aforesaid antivirus software protects the laptops and desktops and provides protection against all kinds of Internet or network-based threats. Upon installation, it acts as a shield against viruses, worms, Trojans, spywares and other malicious threats. It also provides security against new and unknown threats with the antivirus software’s DNAScan® Technology etc.

11. Committee Publication and Other Publication (E-book):

The Committee has taken an initiative to bring out Ready Referencer- 2019 for the CA fraternity, highlighting latest developments in the profession. The Quick Insight contains important information on tax, accounting & auditing standards, limited liability partnership, Management consultancy services, statements and standards and standards on audit as well as information on important forms related to CAs. It also provides E-book on Roadmap for Young Practitioners.

12. CA Firm Portal: (the portal) is been developed by this Committee with objective of the Committee is to rejuvenate practice portfolio of members and CA firms by strengthening their professional strength through Networking and Merger among CA firms as well as assisting in setting up of LLP as well as corporate form of Practice (MCS). It also provides platform for knowledge sharing and updating through release of technical publications on various matters of professional interest.

Further, above benefits are currently in force, Committee is continuously trying to get more and more benefits for Members. So it is advisable to visit this site frequently to get benefitted.

To avail the benefits please visit:

Register yourself with your registered Email Id (As per ICAI Records), Date of Birth, Membership Number and choice of your password. 

For more Blogs, you can visit 


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