Amid pandemic ICAI has been very helpful to it’s members and now ICAI has even waived condonation fees for delay of any form or paper by students, members etc. which it normally charges. Waiving such late fees ICAI announced that:
“Amid the current situation arising out of Covid-19, it is observed that some of the students, Articled Assistants, Members & Firms are still facing difficulties in online filing of prescribed applications Forms for various activities due to unfavorable situation.
Further, delay in submission of online application Forms is attracting levy of Condonation fee under the relevant Regulatory Provisions creating hardship for them.
Considering the difficulties being faced by the such Students, Articled Assistants, Members & Firms, it has been decided to waive-off condonation fees w.e.f. 1st November till 31st December 2020. While the said relaxation has been made applicable w.e.f. 1st November 2020; all transactions bearing transactions date falling between1st April 2020 to 31st December 2020 shall also be considered under this scheme.
This period includes one-month prescribed time limit given in general.”
Thus, it is important to understand that such waiver of condonation fees shall cover all transactions from 01.04.2020 to 31.12.2020 and no condonation fees shall be charged for any delay during this period.
Hence, if you had delayed any submission before ICAI complete it before 31.12.2020 to save yourself from condonation fees.
To read full announcement CLICK HERE.