ICAI further extends Condonation Scheme to regularize UDINs till 28.02.2021

ICAI further extends Condonation Scheme to regularize UDINs till 28.02.2021

Extension of Condonation Scheme to regularize UDINs

The Condonation Scheme to regularize UDINs was announced by the ICAI by announcement dated 28th December 2020.

As per the said scheme, the documents signed between 1st Feb.2019 till 31st Dec. 2020 the UDINs can be generated during 1st Jan. 2021 to 31st Jan. 2021.

Representations had been made by Chartered Accountants for extension of the time limit for compliance with the UDIN requirement under Condonation Scheme as they could not take advantage of the scheme due to various statutory compliances.

As per requests received by ICAI, many CAs were under the wrong impression that the UDINs can be generated till 31st Jan. 2021 for the documents issued from 1st January 2021 till 16th January 2021 also.

Therefore, ICAI has allowed generation of all the missed UDINs between the period 1st February 2019 to 31st January 2021 upto 28th Feb 2021 as part of extension of the Condonation Scheme.

However, for all the documents signed from 01.02.2021 onwards, the original guidance for generation of UDIN i.e on the same day or within 15 days will have to be followed.

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