Industrial traning

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sneha (Querist)
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30 August 2010 In how many days i have to submit the Form 104 and where? Whether at ITO or Vishvas nagar..? also let m knw what documents i have to submitted with form 104? reply me soon....

Ankur Garg

Ankur Garg (Expert)
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06 September 2010 Hello,

Under the scheme for industrial training, a tripartite agreement in Form No. 104 has to be executed by:

(i) the chartered accountant employed by the concern with whom the trainee is to be attached for the purpose of industrial training;

(ii) the industrial entity; and

(iii) the trainee. This agreement is required to be properly stamped and registered with the Institute.

For More info download form 104 from ICAI site and go through the same. For assistance have a chat with ICAI officials.

All the Best

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Ankur Garg

Ankur Garg (Expert)
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06 September 2010 INSTRUCTIONS

(1) An articled assistant who has passed the Intermediate examination / Professional Education
Examination II under these Regulations may at his discretion, serve as an industrial trainee for the period specified in sub-regulation (2) of Reg 51 of C.A. Regulations, 1988.

(2) In a financial, commercial or industrial undertaking whose total assets are Rs. 1 crore or minimum total turnover of Rs. 10 corres or minimum paid up capital of Rs. 50 lakhs and is an organization approved by the Council.

Provided that the articled assistant has intimated to his principal his intention to take such industrial training at least three months before the date on which such training is to commence.

(3) The period of industrial training may range between nine months and twelve months during the last year of the prescribed period of practical training.

(4) The industrial training shall be received under a member of the Institute. An Associate who has been a member for continuous period of at least three years shall be entitled to train one industrial trainee at a time and a fellow shall be entitled to train two industrial trainees at a time whether such trainees be articled assistants or audit assistants.

(5) An agreement of training shall be entered into in the form approved by the Council either on a nonjudicial stamp paper or special adhesive stamp of the requisite value be affixed on form No. 104.

(6) The form, in duplicate, should be sent so as to reach the office of the Institute within 30 days from the date of commencement of Industrial Training.

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