The Institute of Chartered Accountants of India has decided to waive off the condonation fee of the CA applicants. The institute’s decision comes amidst the COVID-19 lockdown on account of which student are facing a lot of hardships. In a statement released by the ICAI it said that due to the ongoing lockdown period to prevent spread of COVID-19, students are facing a number of problems such as filing of various application forms related to practical training online within prescribed time. The institute that such delay is levying condonation fees upon the students.
Thus, considering the problems encountered by the students, the Chartered Accountants’ body has decided to forgo condonation fee on delay filing of all articled/industrial training related application forms until 30th June 2020 provided the transaction date of such application forms is between 1st March 2020 and 30th May 2020, said the statement. The ICAI’s statement also added that this period generally includes one-month prescribed time limit.
Recently the ICAI also announced that it will start online revision classes for CA Intermediate and Final Year 2020 students. Starting 22nd April 2020, the ICAI will conduct Live Virtual Classes and Live Revision Classes for CA Intermediate and Final exam students. The online classes provided by the ICAI are free of cost and have been designed so as to assist in students’ revision and preparation for the upcoming session of ICAI CA May 2020 exams. Students are not required to register for the online classes in advance. They can simply visit the official website of ICAI and click on the link for each class.
Earlier, the ICAI had also postponed the CA exams that were scheduled to be held in May on account of the COVID-19 pandemic and lockdown. The ICAI CA exams will now be conducted in June-July.
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