Ahmedabad: A significant change has been introduced in the chartered accountancy profession under the Pradhan Mantri Internship Scheme (PMIS) after the government relaxed a key stipend-related condition that earlier limited participation largely to corporates.
Previously, companies hiring interns through PMIS were required to bear a share of the stipend from their Corporate Social Responsibility (CSR) funds. Since most CA firms function as partnerships or proprietorships and do not maintain CSR budgets, thousands of firms were effectively excluded from the scheme.
Jainik Vakil, past chairman of ICAI Ahmedabad branch, said, “This relaxation is a timely step that will significantly improve practical training opportunities for young talent across the country.”
With the amended provision, CA firms across India — small, mid, and large-sized — can now onboard interns under PMIS. The move is aimed at placing youth in real professional environments while enabling firms to access trained and semi-skilled manpower, especially in Tier-2 and Tier-3 cities.
“Interns placed with CA firms will be able to gain hands-on exposure in tax audit, statutory audit, GST compliance, income tax return filing, accounting, TDS compliance and other professional assignments. The stipend structure will continue with contributions from both the government and the host institution,” Vakil added.
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