I have completed my articleship in August 2015 and extension in November 2015. However, I was not aware that I had to submit Form 108 for completion of extension also. I had already done for completion of articles (3 years period).
As it was brought to my notice, I sought to complete the compliance. There is fees for delay in submission of Form 108. As per ICAI,
https://www.icai.org/post.H T M L?post_id=9650
The Form 108 should be submitted to the office of the Institute within 30 days. In case of delay in submitting the form beyond the stipulated period, it has to be accompanied by a letter obtained from the employer stating the reasons for delay along with a condonation request and appropriate condonation fee as per the following:
Delay upto 30 days beyond the initial period Rs. 100/-
Delay between 31 days – 180 days Rs. 300/-
Delay beyond 181 days Rs.1000/-
I have submitted the neecessary documents along with a DD of Rs. 1000 to institute in second week of April. Upon enquiring of status, I am informed that the fees for delay in submission has been revised on the following lines w.e.f. 1st April, 2017:
Delay upto 30 days beyond the initial period Rs. 500/-
Delay between 31 days – 180 days Rs. 1000/-
Delay beyond 181 days Rs.10000/-
Can anybody confirm whether the above is correct? Would appreciate if ICAI notice is shared with the effect.
CAclubindia
