CPT Exemption Rule For Graduates

CPT Exemption Rule For Graduates Approved by Government on 3rd August 2012

                

CA-CPT exemption rule for graduates is approved by government. It will be exempted for those candidates who fulfills the following conditions

  (i)Any commerce graduate/Post-graduate who has studied any 3 full papers of 100 marks each out of         

1. Accounting
2. Auditing
3. Management Accounting
4. Business Administration
5. Costing
6. Direct Tax Laws
7. Indirect Tax Laws
8. Mercantile Laws
9. Economics
10. Corporate Laws
11. Management Including Financial Management

and should pass Graduate/Post-Graduate examination by securing an aggregate of minimum of 55% of total marks or its equivalent grade from any recognized Universities including Open Universities is exempted from CPT and can directly appear for the next level in CA i.e. CA-IPCC.

(ii)Graduates or Post Graduates other than those falling under Commerce stream mentioned above having secured in aggregate a minimum of 60% of the total marks or its equivalent grade in the examination conducted by any recognized University (including Open University) can also avail CPT exemption.

(iii)Candidates who have passed the Intermediate level examination or its equivalent examination by whatever name called conducted by The Institute of Cost Accountants of India (ICAI) or by The Institute of  Company Secretaries of India (ICSI)

Commencement of Articleship for CPT Exempt Students

1. Graduates availing CPT exemption can start their articles immediately after their registration without the requirement of clearing CA Inter
2. ICWAI / ICSI  Intermediate cleared students availing CPT exemption can start their Articles only after clearing their CA Inter
   

Provisional Registration for Students Pursuing Graduation

1. Students who are pursuing the Final year of Graduation Course shall be eligible for provisional registration to the Intermediate (Integrated Professional Competence) Course. 
2. Such students would be required to submit satisfactory proof of having passed the graduation examination with the specified percentage of marks within six months, from the date of appearance in the final year graduation examination (i.e. from the day of commencement of the examination). 
3. During the period of provisional registration, a student can undergo and complete Information Technology Training (ITT) and Orientation Course. 
4. It is clarified that in their case, the practical training shall commence only on becoming a Graduate with specified percentage of marks. 
5. Such students shall be eligible for appearing in the Intermediate (Integrated Professional Competence) Examination on completion of nine months of practical training.
6. If such students fail to produce the proof within the aforesaid period, his provisional registration shall stand cancelled and the registration and other fees, as the case may be, paid by him shall not be refunded/ adjusted and no credit shall also be given for the theoretical education undergone.