ICAI Important Announcement: Extension of Last Date for Submission of Application Form without Condonation Fee

On 6th August 2020 (Thursday), ICAI issued an important announcement regarding the articleship of Chartered Accountancy students.

We all know how all the students are facing issues with the timely submission of the application form.

Check Out: All about Articleship

What is Articleship Application Form?

In order to qualify as a Chartered Accountant, it is necessary that a student undergoes an articleship or industrial training for a period of 3 years after clearing one or both groups of CA Intermediate IPC Course or CA Intermediate curriculum.

For Articleship Registration, the students are required to fill up Forms 102 and 103. This is known as Articleship Application Form.

Click on the links given below to check out the format of the Articleship Application Forms:

Form 102

Form 103

What issues are the CA students currently facing?

The ongoing pandemic has left everyone unnerved. Just like everyone else, CA students are also facing troubles in their respective field.

A few of them are listed below:

• Judicial stamp paper is currently unavailable which is important for the execution of Articleship deed. Without them, the students are unable to complete the registration process.
  
• Since the academic institutions are under complete lockdown, the filling of Form 112 is also under constraint. (Form 112 seeks permission to pursue another course along with CA)

• Since the inability to fill up Form 112 is causing a delay in online submission of application forms, it is inviting levy of Condonation Fee under the relevant provisions.

What step has ICAI taken to remedy this situation?

ICAI has decided:

• to extend the period of relaxation in continuity from 30th June 2020 to 31st October 2020

• to waive off condonation fee if application forms are filed till 31st of October 2020.
  

Note: ICAI mentions that this period includes one-month prescribed time limit given in general.