The Institute of Chartered Accountants of India (ICAI) has decided to waive off condonation fee for members and firms charged due to late filing of Form-18. The decision has been taken by the institution considering the situation and hindrances occurring due to a surge in COVID-19 cases in the country.
The institute has observed that amidst the current situation arising out of Covid-19, members and firms are facing difficulties in filing Form 18.
“Such delay in submission of online application Form is attracting levy of Condonation fee under the relevant Regulatory Provisions and creating hardship to them,” it said.
Considering the difficulties which may be faced by Members and Firms, the condonation fee has been waived off by ICAI for all the transactions, which are made between April 1 to June 30 till July 30. The firms and members can visit the official website –icar.org in order to procure Form-18.
Important Announcement regarding Waiving-off Condonation Fees due to late filing of application Form 18 related to Members and Firms amidst COVID-19 Pandemic till 30th July 2021 Detailshttps://t.co/MuIrOMfjL2 pic.twitter.com/wSITeqWbCt— Institute of Chartered Accountants of India – ICAI (@theicai) May 2, 2021
Form 18 is filled for re-constitution of Firm, intimating Joining/leaving of Partner(s)/Paid Assistant(s) and opening/closing of branch office.
ICAI has said that necessary changes are being made in the SSP system and the system would be ready within 4-5 days with exemption of condonation fee.
Meanwhile, the institute has also reopened the registration window for filing the examination form from May 4 to 6. This is the last opportunity for students to apply for May 2021 examination. Interested candidates can apply online and check details at www.icai.org.
Owning to COVID-19 pandemic, ICAI had on April 27 postponed the final and intermediate course examination, which was scheduled to be held in May 2021. The revised dates for the exam have not been announced yet and will be announced after reviewing the COVID-19 situation. The new dates will be announced at least 25 days from the date of exams, the institute announced.