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re: form 112

kunal (articled assistant) (138 Points)

11 January 2010

Again there is news about that form 112 but as usual it lacks clarity....

Could somebody please advice me over this ---

I am in my bcom final year correspondence and would graduate in march this year and was registered as an article in sept 2007...

So do I need to submit form 112?? please someone clarify this to me

thanks & regards

kunal

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39 Replies

CA Dhiraj Ramchandani (CA, M. com) (10823 Points)
Replied 11 January 2010

HI, form 112 is submitted to seek the permission.... But now, when u r at the edge of ur b.com, what permission u need???

If u go for ur masters, then u've to submit the form 112, its not at all worthy to submit the form right now, as u've already taken admission in b.com, u r now finishing it... So, no need to submit it now and create a problem for u...

CA.ViVeK M ACA (ACCOUNTS DEPARTMENT) (28544 Points)
Replied 11 January 2010

For taking the additional course like CS, MBA,CWA etc require the permission in form 112. for pursuing Graduation, it is not applicable ...

kunal (articled assistant) (138 Points)
Replied 11 January 2010

Originally posted by : D н ! я σ √
	HI, form 112 is submitted to seek the permission.... But now, when u r at the edge of ur b.com, what permission u need??? If u go for ur masters, then u've to submit the form 112, its not at all worthy to submit the form right now, as u've already taken admission in b.com, u r now finishing it... So, no need to submit it now and create a problem for u...

ya well thats what i have considering but the thing that confuses me is that they havn't mentioned that old students dont need to submit this form or some thing like that as usual they are so vague....

CA Dhiraj Ramchandani (CA, M. com) (10823 Points)
Replied 11 January 2010

Originally posted by : CA.vivek.m ACA
	For taking the additional course like CS, MBA,CWA etc require the permission in form 112. for pursuing Graduation, it is not applicable ...

Hi sir, form 112 is submitted to get permission for any bachelors or masters degree.., so i think its prior requirement...

Abhishek (CA FINAL) (119 Points)
Replied 11 January 2010

Hi Friends, I am in ca final and will be appearing for it in May 2011 and my articles get over by april 2010……..

Also I am in my final yr of b.com which will be completed by april 2010

Now my main query is ………that I want to do cfa Level 1 in this june 2010……the last date for registration is 13^th feb 2010………..and hv still not registered………..so what do I need to do in this case……….???

Should I first register and then send 112 for condonation under the amnesty scheme (as per the latest notification on 8/1/2010) or should I first seek the permission by sending form 112.

Also will i be in advantage bcoz my cfa attempt is in june and my b.com will get over by then...............??

Please do reply urgently…………..

CA Dhiraj Ramchandani (CA, M. com) (10823 Points)
Replied 11 January 2010

Hi varun, its no where written that old/new students should submit form 112....

But being on safer side, a student should ask for the permission to begin with any graduation or post..., or else if he/she has already started with the studies, its better to not to submit form later, as it attracts penalty and may be create problem for the student from ICAI....

CA Dhiraj Ramchandani (CA, M. com) (10823 Points)
Replied 11 January 2010

Originally posted by : Abhishek
	Hi Friends, I am in ca final and will be appearing for it in May 2011 and my articles get over by april 2010…….. Also I am in my final yr of b.com which will be completed by april 2010 Now my main query is ………that I want to do cfa Level 1 in this june 2010……the last date for registration is 13th feb 2010………..and hv still not registered………..so what do I need to do in this case……….??? Should I first register and then send 112 for condonation under the amnesty scheme (as per the latest notification on 8/1/2010) or should I first seek the permission by sending form 112. Also will i be in advantage bcoz my cfa attempt is in june and my b.com will get over by then...............?? Please do reply urgently…………..

Hi abhishek...

In form 112, u r suppose to get no-objection sign of ur boss, and also the sign of the dean or main authority of that college/institute in which u r going to take coaching...

So, it proves that u r suppose to get admission first in cfa, and then from ICAI...

ICAI approves those courses only, which doesn't disturb ur articleship... I mean, the tution timing of CFA and ur regular office timings should not collide.., if they do, then ICAI "may" reject ur application.....

p.sainath (articles and b com ) (54 Points)
Replied 11 January 2010

i think form 112 need to be submit within one month from register of another course . if not registered there will be the fine of 300 rs

Abhishek (CA FINAL) (119 Points)
Replied 11 January 2010

To Dhiraj, first of all thanks for the instant reply.............

my main concern is that if i register for cfa first and then submit form 112 then whether institute will not object to it since i am doing two courses alongwith my articleship i.e; b.com and cfa.........

and if i submit in april when my b.com gets over then also it will be termed as delay in submission of form 112 bcoz i hv to register before 13th feb for cfa and also no amnesty scheme will be allowed after 31 march (as per the latest notofication)

so what i shud do ???????

CA.ViVeK M ACA (ACCOUNTS DEPARTMENT) (28544 Points)
Replied 11 January 2010

Please find the regulation of ICAI in this regard

1.“Without the previous permission of the Council, obtained on application made in the approved form, no articled assistant shall, during the period of his service as an articled assistant, take any other course of study or training, whether academic or professional, or engage in any business or occupation.”

2.Of late, it has been noted with concern that the students / articled assistants have not been adhering to the requirements of the aforesaid Regulations while pursuing another course along with article ship and have been declaring such a fact while applying for enrolment as a Member of the Institute and seeking condonation for Breach of Regulation 65 /78 for having not taken the permission at the appropriate time.

3.The Executive Committee while considering such cases expressed its anguish and exhorted the students / articled assistants to pursue only one course alongwith articleship, even that be a graduation course and seek permission of the Council by filing of Form 112 duly certified by the Principal i.e. Chartered Accountant and the Principal of the College concerned within 30 days of taking admission

Abhishek (CA FINAL) (119 Points)
Replied 11 January 2010

Sayif i register first for cfa (by paying Rs 55000.......thats the fees for level 1) and then submit form 112 and what if institute says to withdraw for cfa course or gives me negative reply for cfa course.......???

what abt Rs. 55,000 then ?????????????

CA Dhiraj Ramchandani (CA, M. com) (10823 Points)
Replied 11 January 2010

Hi abhishek, have u submitted 112 for b.com???? first tell me that....

CA.ViVeK M ACA (ACCOUNTS DEPARTMENT) (28544 Points)
Replied 11 January 2010

Originally posted by : Abhishek
	Sayif i register first for cfa (by paying Rs 55000.......thats the fees for level 1) and then submit form 112 and what if institute says to withdraw for cfa course or gives me negative reply for cfa course.......??? what abt Rs. 55,000 then ?????????????

Better seek prior approval from ICAI before doing such course...

CA Dhiraj Ramchandani (CA, M. com) (10823 Points)
Replied 11 January 2010

Abhishek, ICAI denies only when the tution time of such course clashes with ur articleship...

I mean, let say for example, ur articleship timings are 10am to 6pm.., then if u join any class whose coaching time ends by 9.30 am or which starts after 6.30pm.., ICAI won't deny u for that course....

But yes, if the coaching time is between ur articleship time, then ofcoarse ICAI can deny...