Exemption from CPT for graduates students studying any 3 commerce papers carrying 50 marks per semester/ year and 100 marks in entire course duration.
In addition to the Intermediate level Examination passed students of The Institute of Cost Accountants of India (ICAI) and The Institute of Company Secretaries of India (ICSI), any graduates with good marks may get direct entry to the Intermediate (Integrated Professional Competence) course of The Institute of Chartered Accounts of India (ICAI) to become a Chartered Accountant.
Exemption to Graduate or Post Graduate (Category-A):
As per the newly inserted sub-regulation (1A) of regulation 25D read with regulations 28E and 50 of the Chartered Accountants (Amendment) Regulations, 2012, the following Commerce/ Non-Commerce graduates or post graduate are eligible to get direct entry in CA Intermediate (IPC) Course:
1) Commerce graduates or post graduate:If you are a graduate or post graduate in commerce and you had secured a minimum 55% marks in aggregate then you shall be exempted from passing the Common Proficiency Test (CPT) of ICAI.
iii) Mercantile Laws,
iv) Corporate Laws,
v) Management (including Financial Management),
vii) Taxation (including Direct Tax Laws and Indirect Tax Laws),
ix) Business Administration
x) Management Accounting
xi) or similar to the title of these (i to x) papers with different nomenclatures.
Therefore, you may say that you will get exemption from CPT under Direct Entry Scheme to CA IPC Course if you are a commerce graduate or post graduate and you had secured:
a) Either a minimum 55% marks in aggregate or the equivalent grade
b) by studying any three commerce papers (stated above) carrying
i) a minimum of 50 marks in a semester/ year; and
ii) cumulatively 100 marks or more marks over the entire duration of the concerned course.
The above amendment has been made with retrospective effect vide ICAI BoS/ Announcement/ 227/2013 dated June 7, 2013 by passing a resolution under Regulation 205 of the Chartered Accountants Regulations, 1988.
Thus this updated regulation is effective with from the date of the commencement of practical training, provided the registration and other related papers together with prescribed fee had been received in the office on or after 1st day of August, 2012 and such students are also continuing their articles.
2) Non- Commerce graduates or post graduate:In case you are a non-Commerce graduate and secured at least 60% marks in aggregate of the total marks or its equivalent grade in the examination conducted by any recognised University (including Open University) then there would be no need to appear for CPT.
Exemption to the students of ICAI and ICSI (Category-B):
As per the newly inserted sub-regulation (1B) of regulation 25D of the Chartered Accountants (Amendment) Regulations, 2012, candidates who have passed the Intermediate level examination or its equivalent examination by whatever name called conducted by the institute of Cost Accountants or Company Secretaries are eligible to get direct entry in CA Intermediate Course: