Exam leave for ca final

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Rakesh Budhia

Audit Assistant

30 Points Posted on 28 December 2012

AS PER CLAUSE / REGULATION 59 OF ICAI -

"For the purposes of preparing for an examination of the Institute, the articled assistant shall be granted by the Principal leave for three months or to the extent due, whichever is less, provided an application for the leave has been made at least fifteen day in advance."

CAN ANY ONE TELL ME WHAT DOES "or to the extent due" MEANS ??

PLEASE REPLY FAST...

Replies (3)

Go green

ICAI

338 Points Posted on 28 December 2012

maximum period availavle during the entire articleship is 1/6th of the period actually served less leave already availed.

For example,

Period elapsed: 2 years 9 months (33 months);

Leave already availed: 3 month;

Then leave available for exams = (1/6 (33 months - 3 months)) - 3months = 2 months

CA Srikanth Yadav

Chartered Accountant

2428 Points Posted on 28 December 2012

Originally posted by : Go green
	maximum period availavle during the entire articleship is 1/6th of the period actually served less leave already availed. For example, Period elapsed: 2 years 9 months (33 months); Leave already availed: 3 month; Then leave available for exams = (1/6 (33 months - 3 months)) - 3months = 2 months