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Articleship extension under new principal

Articleship 178 views 1 replies

gautam kumar

1 Points Joined April 2025

Hello everyone, I need some info regarding articleship extension. I have a extension of about 160 days but due to some circumstances I am unable to serve it under my previous principal, so is it allowed to serve extension period under a new principal. I have my articleship registered under old scheme. Please let me know if there is any possible solution for my issue....... Thanks in advance.

Replies (1)

Rama chary Rachakonda

Master in Accounts & high court Advocate

8756 Points Joined December 2011

You can serve your articleship extension period under a new principal, even if your articleship was registered under the old scheme. Here's what you need to know: Key Points - *Approval from ICAI*: You'll need to get prior approval from the Institute of Chartered Accountants of India (ICAI) for serving your extension period under a different principal. - *Transfer Procedure*: The transfer of articleship requires approval from both your current principal and the proposed new principal. They'll need to sign a specific form provided by ICAI for transferring articleship.¹ Forms to Submit To transfer your articleship and serve the extension period under a new principal, you'll typically need to submit the following forms: - *Form 103*: Application for transfer of articleship from the old principal to the new principal - *Form 102*: Intimation of change of principal - *Form 108*: For transfer within the same city Procedure 1. *Obtain Forms*: Get the necessary forms from your current principal or the ICAI regional office. 2. *Fill and Submit Forms*: Fill out the forms accurately and submit them along with required documents to the ICAI regional office. 3. *Franking of Form 102*: Get Form 102 franked by ICAI, which signifies formal acceptance of the change of principal. 4. *Start Date of Extension*: The extension period will start from the date of franking of Form 102.² Additional Considerations - *Documentation*: Keep copies of all forms and documents submitted for your records. - *Communication*: Inform your current and new principals about the transfer and extension to ensure a smooth transition. - *Approval*: The transfer and extension of articleship are subject to approval by ICAI.

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