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form 107 and 108

Anita Sethia ( CS ) (150 Points)

25 November 2010

when i can file my form no 107 an 108 and if not in time

abhay sethia

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4 Replies

Divya.M (CA Final Student) (274 Points)
Replied 25 November 2010

Form 108 shld b filed with in one month from end of ur article period... if not with penalty. am not sure abt the penalty. form 107 shld b filed for extension of ur aticles n case ur leave is more den 180 days...

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Pavan Kumar Dube (CA Final) (576 Points)
Replied 30 November 2010

Download this you ll get ditailes

https://220.227.161.86/7510form%20107_std.pdf

https://220.227.161.86/7511form%20108_std.pdf

Pavan Kumar Dube (CA Final) (576 Points)
Replied 30 November 2010

108 is for compleation where as 107 is for excess leave taken if any

Ajay Mishra (Company Secretary) (74337 Points)
Replied 30 November 2010

An articled assistant who has already completed three years/three & half years of articled service and has taken leave in excess of the period allowed under Regulation 59 is required to serve for a period equivalent to the excess leave taken in order that his training may be completed. For this purpose, a supplementary deed of articles in Form No. 107 should be executed in triplicate with the same employer in continuation of the previous training on a non-judicial stamp paper or special adhesive stamp of the requisite value should be affixed on the form. The supplementary deed in duplicate along with Form 108 for the period already served should be sent so as to reach the office of the Institute within 60 days of the expiry of the normal term of articles.

In case there is a break in the continuity of training and/or there is a change in the employer and/or there is a delay in submission of the papers beyond 60 days, as referred to in the previous paragraph, an agreement in Form No.107 would not be valid. In such a case, a fresh agreement in Form 102 should be entered into and the particulars in Form 103 along with Form No.108 for the period already served, should be sent to the office of the Institute for registration within 30 days of the commencement of training.

A member may be granted an additional vacancy to engage an articled assistant whose normal term of training is over and he (the articled assistant) is found to have taken excess leave which is to be made up by an additional period of articles. It is the duty of the employer in such a case to ensure that the articled assistant completes the period of training under him including the period of excess leave. The benefit of an additional vacancy in such case is given only where it could not have been reasonably anticipated that the articled assistant would have to serve an extra period on account of the excess leave taken. Such additional vacancy may be given to the previous employer or to any other chartered accountant entitled to train articled assistant(s).