ICAI Waives Off Practical Training Condonation Fee Of CA Applicants

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Due to ongoing period of lockdown amid Covid-19, it has been observed that students are facing problems in online filing of various application forms related to practical training within prescribed time and such delay is causing levy of condonation fee upon them, said the Institute of Chartered Accountants of India (ICAI) in a statement. The Chartered Accountant's body said it has decided to waive off this condonation fee considering the hardship faced by students.

"Considering hardship faced by the students, it has been decided to waive off condonation fee on delay filing of all articled/industrial training related application forms till 30th June 2020 if transaction date in such application forms falls between 1st March 2020 to 30th May 2020," the ICAI said in the statement.

"This period includes one-month prescribed time limit given in general," the statement added.

In another related announcement, the ICAI said it will start revision classes for students who would sit for the forthcoming examinations in June 2020. The classes will begin from April 22 and will benefit students in intermediate and final levels of the CA course.

The revision classes will be available for free to all the students. Students do not need to register in advance and can just click on the link provided for each class (available on the ICAI website) and attend the class.

The Institute, which is the supervising professional body for Chartered Accountant education in the country, has on March 28 postponed the CA exam scheduled to be held in May. The exams will now be held in June-July.

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Source: www.ndtv.com