break from articalship for one year
This query is : Resolved
22 November 2009
hello to ca club indias respected persons .
i m registered as an article assistance in sep 2007 i give first attempt in june 2009 and i clear 1 st group only. in nov i again give 2 nd group . my problem- i want to take break from my articalship for one year because i found a contract basis job for one year ......so any knowledgable person tell me that can i take one year break from my articleship ...........pls its urgent............. my final contract date 29 th DEC......
i m registered as an article assistance in sep 2007 i give first attempt in june 2009 and i clear 1 st group only. in nov i again give 2 nd group . my problem- i want to take break from my articalship for one year because i found a contract basis job for one year ......so any knowledgable person tell me that can i take one year break from my articleship ...........pls its urgent............. my final contract date 29 th DEC......
10 December 2009
PLZZZ TELL ME WHT CAN I DO?????
18 July 2024
As per the regulations of the Institute of Chartered Accountants of India (ICAI), you are allowed to take a break from your articleship for a maximum period of 12 months for valid reasons such as health issues, higher education, or other acceptable circumstances.
Here’s what you should consider:
1. **Approval from Principal**: You need to seek approval from your Principal (the Chartered Accountant under whom you are pursuing your articleship) for taking a break. The Principal has the discretion to approve or reject the break request based on the circumstances and the policies of the firm.
2. **Application to ICAI**: Once your Principal approves your break, you need to submit an application to the ICAI requesting approval for the break period. This application should include the reasons for the break and supporting documents if required.
3. **Form 109**: You will need to submit Form 109 to the ICAI, which is used for applying for the termination or transfer of articleship. This form will include details of your articleship, the break period requested, and the reasons for the break.
4. **Completion of Articleship**: It's important to ensure that the break period does not exceed 12 months, as per ICAI regulations. If the break period extends beyond 12 months, it may impact your eligibility to continue the articleship without additional requirements or approvals.
5. **Rejoining Articleship**: After the break period, you can rejoin your articleship under the same Principal or under a new Principal with the necessary approvals and formalities completed.
Since your contract job is for one year and if it overlaps with your articleship period, it’s crucial to inform your Principal promptly and seek their approval. They can guide you through the process and ensure compliance with ICAI regulations.
For specific details and to initiate the process, you should consult with your Principal and also refer to the ICAI guidelines or contact your regional ICAI office for assistance.
This approach will help you manage your articleship break effectively while ensuring compliance with ICAI regulations.
Here’s what you should consider:
1. **Approval from Principal**: You need to seek approval from your Principal (the Chartered Accountant under whom you are pursuing your articleship) for taking a break. The Principal has the discretion to approve or reject the break request based on the circumstances and the policies of the firm.
2. **Application to ICAI**: Once your Principal approves your break, you need to submit an application to the ICAI requesting approval for the break period. This application should include the reasons for the break and supporting documents if required.
3. **Form 109**: You will need to submit Form 109 to the ICAI, which is used for applying for the termination or transfer of articleship. This form will include details of your articleship, the break period requested, and the reasons for the break.
4. **Completion of Articleship**: It's important to ensure that the break period does not exceed 12 months, as per ICAI regulations. If the break period extends beyond 12 months, it may impact your eligibility to continue the articleship without additional requirements or approvals.
5. **Rejoining Articleship**: After the break period, you can rejoin your articleship under the same Principal or under a new Principal with the necessary approvals and formalities completed.
Since your contract job is for one year and if it overlaps with your articleship period, it’s crucial to inform your Principal promptly and seek their approval. They can guide you through the process and ensure compliance with ICAI regulations.
For specific details and to initiate the process, you should consult with your Principal and also refer to the ICAI guidelines or contact your regional ICAI office for assistance.
This approach will help you manage your articleship break effectively while ensuring compliance with ICAI regulations.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Sale of property furniture sale
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Confusion around Form 26QB fields
- Tds on building rent monthly
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- TDS under section and rate of TDS
- TDS under section 194Q and TCS under section 206C
- GST input on car insurance and repairs
- GST input on Diwali gift to employee
- GST input on Mobile Handset
- Material and freight in same invoice
- TDS under section 194J inclusive of reimbursement of expenses
- Should I be worried about and rectify reporting Jan,Feb ,March 2024 foreign salary in schedule FA?
- BUYING PROPERTY COULD NOT FILE 26QB
Trending Online Classes
CAclubindia
