On Monday, the Institute of Chartered Accountants of India (ICAI) extended the last date for waiving off the condonation fee. It was due to the late filing of various application forms related to students and articled assistants amid the COVID-19 pandemic. Earlier, 31 March 2021 was the last date for waiving off the condonation fee which has now been extended to 30 June 2021.
It was observed by the institute that many students/ articled assistants were still facing issues in filling the prescribed applications forms online for various activities
e.g. filing of Form 102/103 for registration of articles due to “non-availability of non-judicial stamp papers for the execution of articles deed, Form 112 seeking permission to pursue another course due to closure of academic institutions, etc.” This issue was, reportedly, creating a delay in the online submission of application forms which in turn was inviting a levy of condonation fee under the relevant regulatory provisions.
In an official statement issued by ICAI, the institute has decided (considering the difficulties posed by such articled assistants and students) that last the date of waiving–off condonation fee will be extended from 31 March 2021 to 30 June 2021. All transactions which will fall between 1 April 2021 to 30 June 2021 shall be considered.
A one-month prescribed time limit given in general is also included in this period.