The Institute of Chartered Accountants of India ( ICAI ) has waived off Condonation Fees due to late filing of application Form 18 related to Members and Firms amidst COVID-19 Pandemic till 30th July 2021.
Amidst the current situation arising out of Covid-19, it is observed that Members and Firms are facing difficulties in filing Form 18, i.e., for re-constitution of Firm, intimating Joining/leaving of Partner(s)/Paid Assistant(s) and opening/closing of Branch Office within the prescribed period. Such delay in submission of online application form is attracting levy of Condonation fee under the relevant Regulatory Provisions and creating hardship to them.
The ICAI said that Considering the difficulties which may be faced by Members and Firms, it has been decided to Waive-off Condonation Fees for the transactions falling between 1st April 2021 to 30th June 2021 till 30th July 2021.
The ICAI also said that Necessary changes are being incorporated in the SSP System and the System would be ready within 4-5 working days with the exemption of the Condonation fee as above.
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