Excess Leave by CA articled assistant and Supplementary Articles Deed – Amendments in Regulations 58 of Chartered Accountants Regulations, 1988
The Ministry of Corporate Affairs (MCA), Govt. of India, has notified the Chartered Accountants (Amendment) Regulations, 2021. An amendment has been made in Regulations 58 of Chartered Accountants Regulations, 1988 with respect to excess Leave by CA articled assistant and Supplementary Articles Deed.Â
The Institute has implemented the revised Regulation 58 as under:
Regulation 58. Supplementary Articles
(1) An articled assistant who has taken leave in excess of the period of leave to which he is entitled under Regulation 59 shall be required to serve for a further period equivalent to the excess leave taken by him.
(2) The period of excess leave taken shall be served under the principal with whom such articled assistant last served his articles and a supplementary deed of articles in the form approved by the Council (Form 107) shall be executed in continuation of the previous articles.
(3) The supplementary deed, duly stamped, shall be sent to the Secretary for registration so as to reach him within 60 days of the expiry of the previous articles. No fee shall be charged for the registration of such supplementary deed of articles:
Provided that the Executive Committee may condone the delay in sending the supplementary deed in appropriate cases
Read Copy of Notification Click Here >>
- Absence of irrevocability clause no ground for rejecting registration u/s 12AB
- ITAT allows exemption of Rs. 25 lakhs u/s 10(10A) to non-government employees
- PCIT has revisionary jurisdiction u/s 263 over the cases passed by the NFAC or the JAO
- Appellate court interfering with MACT finding must undertake reappreciation of evidence
- When delay is not huge & involves huge monetary liability, lenient approach to be taken
