COVID-19 lockdown: ICAI waives off condonation fee for CA candidates

The Institute of Chartered Accountant of India (ICAI) decided to waive off the condonation fee for delay in filing of applications until June 30.

While there is a constant tussle going on between the government and schools on waiving off the school fees for students. The Institute of Chartered Accountant of India (ICAI) decided to waive off the condonation fee for delay in filing of applications until June 30. According to the reports, the fee will be waived off if the transaction date falls between March 1 and May 30.

The ICAI took the decision considering the problems faced by the candidates while filing various application forms online amid the lockdown due to the COVID-19 outbreak in India.

“Due to ongoing period of lockdown amid COVID-19, it has been observed that students are facing problems in online filing of various application forms related to practical training within prescribed time and such delay is causing levy of condonation fee upon them,” the latest notification issued by ICAI reads.

The official notification further states, “Considering hardship faced by the students, it has been decided to waive off condonation fee on delay filing of all articled/industrial training related application forms till 30th June 2020 if transaction date in such application forms falls between 1st March 2020 to 30th May 2020. This period includes a one-month prescribed time limit given in general.”

Meanwhile, ICAI also planned to go digital. In order to assist students during preparation, ICAI is all set to start virtual live revision classes for students appearing for the forthcoming CA inter and Final examinations scheduled for the month of June. According to the sources, the online classes will start from April 22 onwards. The institute will be offering live revision classes free of costs for all students. The classes will be conducted twice a day, 7 to 9 am in the morning, and 7 to 9 pm in the evening.

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