I am sangita sureshbhai pabari , my article ship will be completed on 9th august 2019, approx 3 months extension of artixleship may be provided by my current prinipal. as per regulation 46 i am able to serve that period under new principal so, i want to serve that period under new principal. so, please let me know > whether i can serve extension period under new principle of the same city? >which form i have to submit 108 or 109 along with new registration form 103 and 102? >Is extension period will be started from date of franking of new form 102?
10 July 2024
Here are the answers to your queries regarding serving the extension period of articleship under a new principal:
1. **Serving Extension Period under New Principal:** - Yes, as per Regulation 46 of the Chartered Accountants Regulations, 1988, you are eligible to serve the extension period of articleship under a new principal within the same city or location.
2. **Forms to Submit:** - To transfer your articleship and serve the extension period under a new principal, you typically need to submit the following forms: - **Form 103:** Application for transfer of articleship from the old principal to the new principal. - **Form 102:** Intimation of change of principal. - **Form 108 or Form 109:** This depends on whether the transfer is within the same city (Form 108) or to a different city (Form 109). - Since you are transferring within the same city, you would generally submit Form 108.
3. **Starting Date of Extension Period:** - The extension period of articleship will start from the date of franking of Form 102 (Intimation of change of principal). - Ensure that Form 102 is duly filled, signed, and franked by the Institute of Chartered Accountants of India (ICAI) to initiate the extension period under the new principal.
### Steps to Follow:
- **Obtain Forms:** Obtain the necessary forms (Form 102, Form 103, and Form 108) from your current principal or from the ICAI regional office. - **Fill and Submit Forms:** Fill out the forms accurately, ensuring all required details are provided. - **Franking of Form 102:** Get Form 102 franked by ICAI, which signifies the formal acceptance of the change of principal. - **Submission:** Submit the completed forms along with any required documents to the ICAI regional office for processing.
### Important Considerations:
- **Approval:** The transfer and extension of articleship are subject to approval by ICAI. - **Documentation:** Keep copies of all forms and documents submitted for your records. - **Communication:** Inform your current and new principals about the transfer and extension to ensure smooth transition.
By following these steps and procedures, you can effectively transfer your articleship and serve the extension period under a new principal within the same city as per the regulations. If you have specific questions or need further assistance, it's advisable to consult with your current principal or contact the local ICAI office for guidance.
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