Lots of graduated friends were waiting for this CA CPT Exemption Rule For Graduates since 1 year and on 1st August 2012, this rule has been approved by Government and now it is enforceable as the Government has approved it. For details refer this article: >CPT Exemption Rule For Graduates Approved by Govt.
The detailed information on Approval of CA CPT Exemption For Graduates – Rule Applicability is as under.
ICAI has proposed following guidelines for acceptance to govt. as benefit for graduated students.
1. CPT Passing Marks
For latest update on this rule visit here:
2. CA CPT Exemption Rule For Graduates
The CA CPT Exemption Rule For Graduates is approved by Government. Common Proficiency Test (CPT) will be exempted for the following Students who fulfill this condition:
(I) Any Commerce Graduates/Post-Graduates who has studied any 3 full papers of 100 marks each out of
- Mercantile Laws
- Corporate Laws
- Management including Financial Management
- Income Tax Laws
- Indirect Tax Laws
- Business Administration
- Management Accounting
and passed the Graduate/Post-Graduate Examination by securing an aggregate of minimum of 55% of the total marks or its equivalent grade from any recognized Universities including Open Universities is exempted from appearing for CPT and can directly appear for the next level i.e. CA IPCC
(II) Any other Graduate/Post-Graduate not falling in the above category (i.e. Non-Commerce Graduates) who has passed the Graduation/Post-Graduation examination by securing an aggregate of minimum of 60% of the total marks in the examination or its equivalent grade from any recognized Universities including Open Universities can also avail of the CPT Exemption
(III) Any Candidate who has passed the Intermediate level examination conducted by The Institute of Cost and Works Accountants of India (ICWAI) or by The Institute of Company Secretaries of India (ICSI). It has also been decided that the above exemption would also be applicable to students who wish to pursue Accounting Technician Course of ICAI.
Provisional Registration for Students pursuing Graduation Course
As it is there in CPT, like the student can register on 12th basis before 12th result; after CA CPT Exemption Rule Approval For Graduates, also the students who are in the final year of graduation are also allowed to provisionally register for IPCC but appear for IPCC Exams only after appearing in the final year examination of Graduation Course.
Their provisional registration to the CA Course would be confirmed only after submission of satisfactory proof of their having passed the graduation course with the prescribed percentage of marks.
Commencement of Articleship for Graduates who are exempt from CPT
Those Students (as specified above) who are exempt from appearing for CPT are allowed to commence their Articleship Training immediately without even clearing IPCC (Group I) Exams
However, candidates passing Intermediate level examination conducted by the ICWAI/ ICSI are allowed to join Articleship only after passing Group I of the IPCC Examination of the ICAI
That’s it for CA CPT Exemption Rule For Graduates Updates.
As we told above too that this rule regarding CA CPT exemption rule for graduates is approved by Government. For more information about this approval, refer: >CPT Exemption Rule For Graduates Approved by Govt.