What is the current rule regarding transfer of articles??
Is it allowed without any restriction in the first year of articleship?
There was an announcement in July 2010 stating so.
But then there has been a new announcement in May,11 https://icai.org/new_post.html?post_id=7267 ..... Does this mean that even in the first year there are restrictions?
Kindly reply on an urgent basis. Thanks..
You can take a unrestricted Transfer in the first year of articleship
But wat abt this new announcement of May'11. Wat does this mean?
As per latest ICAI rules, there was no restriction to transfer. As per Point I of ICAI notification on July 2, 2010, transfer is permitted without any restriction during the first year. But for getting this transfer approved by ICAI, your Principal should agree for it. If he agrees, then no problem at all. Simply fill in the forms and submit to ICAI. In my view, taking prior approval of ICAI (as per May 2011 notification) for getting transfer applies from 2nd year of articleship. Let others comment.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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