Hi friends , waiting to know about IPCC.....? well coming to 2nd and one of the important segments of CA i.e. IPCC. Actually students have many doubts regarding IPCC, its exemption procedure, minimum marks to be scored to get promoted to next level in CA, like wise many doubts running in the minds of students.......So let us try to come up with some answers for all those questions....
About:
IPCC is a course where we come across theory as well as practical subjects. Recently an amendment has been made by ICAI regarding Graduates / Post Graduates i.e. Graduates/Post Graduates are exempted from CPT. They can directly enter into IPCC by availing CPT exemption.
Once if you are registered for IPCC it will be valid for 4 years and it can be re-validated for any number of times for further 4 years by paying re-validation fee of Rs.400 or as decided by the council from time to time.
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Now a days a new trend has come into existence i.e. to surrender Exemption
Subjects:
Group I
Paper 1: Accounting (100 marks)
Paper 2: Business Laws, Ethics and Communication (100 marks)
Part I: Business Laws (60 marks) comprising
Business Laws (30 marks)
Company Law (30 marks)
Part II: Ethics (20 marks)
Part III: Communication (20 marks)
Paper 3: Cost Accounting and Financial Management (100 marks)
Part I: Cost Accounting (50 marks)
Part II: Financial Management (50 marks)
Paper 4: Taxation (100 marks)
Part I: Income-tax (50 marks)
Part II: Service Tax (25 marks) and
VAT (25 marks)
Group II
Paper 5: Advanced Accounting (100 marks)
Paper 6: Auditing and Assurance (100 marks)
Paper 7: Information Technology and Strategic Management(100 marks)
Section A: Information Technology (50 marks)
Section B: Strategic Management (50 marks)
- To come up with flying colors from IPCC a student should score minimum of 40% marks from each paper and over all aggregate of 50% marks i.e. 200 marks out of 400 marks .
- As these are descriptive papers marks will be allotted based on the students performance.
- If a students scores 60% of the marks in any of the subject he will be exempted from writing that particular paper for the next coming attempt.
- This exemption will be valid for the immediately succeeding 3 attempts and will be carried forward automatically for the next 3 attempts.
- A candidate shall be declared as PASS in the group if He/She has scored 40% marks in every paper and an aggregate of 50% marks of all papers in one sitting.
- The students of 1st 50 TOP SCORERS will be awarded Ranks. To obtain a rank He/She should be present in all the papers of IPCC
Note :
The exemption is allotted to a candidate only if He/She has been present for all the papers in a group.
A student can get exemption in any number of papers. Exemption is not restricted. A student can get exemption in all the four papers in a group if he is of that capable.
Now a days a new trend has come into existence i.e. to surrender Exemption
Reasons to Surrender Exemption :
- For IPCC as well as for CA Final ranks will be allotted only to 1st 50 Top Scorers and the condition is that He/She should be present in all the papers of both groups
- If they avail Exemption in the 1st attempt then they are not going to write all the papers in the next attempt therefore the chance of availing Rank has been washed out.
- This has been the main reasons why the students are surrendering their exemption there may also be some other personal reasons depending upon the student.
Procedure for Surrendering Exemption :
- The student should write a letter to The Additional Secretory (Examination) informing him about His/Her decision to surrender the Exemption and shall also enclose a copy of Relevant Marks Sheet.
- On receipt of the same the ICAI shall send a Proforma to a candidate which is to be executed by the candidate on the Non-Judicial Stamp Paper.
Note :To make u clear regarding the marks , PASS or FAIL etc I think the below table might help to great extent
Exemption will be effective only after furnishing of the requisite affidavit and on Issue of confirmation letter to this effect by the institute.
GROUP - 1
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Papers
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Paper - 1
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Paper - 2
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Paper - 3
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Paper - 4
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Total
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Result
|
Maximum Marks
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100
|
100
|
100
|
100
|
400
|
|
Minimum Marks
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40
|
40
|
40
|
40
|
||
Student A
|
38
|
58
|
58
|
59
|
213
|
FAIL
|
Student B
|
39
|
45
|
62
|
55
|
201
|
FAIL
|
Student C
|
50
|
55
|
45
|
50
|
200
|
PASS
|
Student D
|
45
|
65
|
ABSENT
|
56
|
FAIL
|
|
Note :
Student A : Though his aggregate is more than 200 he could not get minimum of 40 marks in Paper -1. So the student is declared as FAIL.
Student B : Though the student can get aggregate of 50% he could not get minimum of 40 marks in Paper -1. So he is declared as FAIL but availed exemption in Paper - 3 So the student need not to write that particular paper in the next attempt
Student C : The student secured 40% marks in each paper and also fulfilled the condition of getting overall aggregate of 50% So he is declared as PASS
Student D : Though the student scored above 60% marks in Paper - 2 he has failed to be present for one of the papers so declared as FAIL and even the Exemption also cannot be availed.
Even in the 2nd group the same pattern continues. But in 2nd group a student should score minimum of 40% marks in every paper and overall aggregate should be 50% i.e. 150 marks out of 300 marks
Advantage of Writing Both Groups :
- If u satisfy the condition of getting 40% marks in each paper and fails to obtain 50% aggregate then the marks of one group where you got more than the 50% aggregate will be set off with the other group where you are lack of marks. For Example Group - 1-180 marks and Group - 2- 175 marks then the student will be qualified in both the Groups.