Dear All,
I have completed my articleship in feb 2012 , and sumbitted my form 108, I received Stipend in Cash hence no information relating this filed in Form 108. Reason for receving it in cash is that I was not holding any bank account till Jan 2011 due to some id proofs regarding issue.
Now intitute has given a letter for the same and asking details of my stipend. suggest me some thing at your earliest and oblige.
1)Dear nikhil you would have shown some bank account number instead showing a fact of cash stipend.
2)As per ICAI regulations Member who is in practise is need to provide stipend in cheque/Bank transfer,
3)And saying proofs not available is not a valid reason..
In such cases icai will generally ICAI thinks student is DUMMY and send a notice asking following details
(i)STIPEND PROOF
(ii)WORK DIARY
(iii)FORM 102 Under stamp paper
HOW TO ANSWER:-
You need to respond to icai with in a reasonable time ...As long as you delayed your articleship completion certificate will not be provided.
(i)provide cash receipts of your auditor's firm as a proof of stipend
(ii)Provide work diary if ICAI asks from you.
(iii)Form 102 copy If ICAI asks.
You just give answer to ICAI to the extent for which it seeks explanation....
Thanks & regards
Ganeshbabu k
Dear Ganesh,
Thanks for your reply . but I want to tell u that I have left blank that colum and not mentioned Cash anywhere in Form.
1)Now you dont have a chance to say some what bank account number... atleast 1 year also not taken cheques for stipend..
2)provide copies of cash payment vouchers of your firm which is paid as cash...because there is no other option left
What icai asks u exactly...do they asked u to provide all months stipends details
Thanks & regards
Ganeshbabu k
Dear Ganesh,
They asked for confirmation isstiprnd is paid accordancewith the provision of Regulation 48.and nothing else
that is what i said..
In short regulation 48 says,
1)principle should pay minum stipend prescribed as per icai rules
2)that payment should be made through crossed account payee cheque
do refer 48 regulations
https://220.227.161.86/7697announ1209b.pdf
Thanks®ards
Ganeshbabu k
they will not ask any thing to provide if u filed form 108 with in time
.
.
if they ask they will ask to provide full details for 3 years
how did you answer them finaly??
This is Rushi, i am doing 3rd year Articleship in hyderabad and i want terminate articleship from my present auditor and rejoin to near by my home town(distance is 400km from my home town to hyderrabad) and stipend has taken from my auditor in cash, what is procedure suggest me..
CAclubindia
