ICAI CA CPT Exemption

Can you tell me in detail about the CPT Exam exemption in CA (Chartered Accountancy) course offered by Institute of Chartered Accountants of India or ICAI?

[Shaleen]

Institute of Chartered Accountants of India or ICAI introduced the Direct Entry Scheme with effect from 1st August 2012 and according to this scheme, students who have completed Graduation with specified percentage of marks are exempt from appearing for CPT Exams and can directly appear for IPCC Exams i.e. the Intermediate Level.

Direct Entry Scheme for Graduates

The following categories of students are exempted from appearing for CPT:-

• Graduates or Post Graduates in Commerce having secured in aggregate
a minimum of 55% of the total marks or its equivalent grade in the exam
conducted by any recognized University by studying any three papers of 100
marks each out of Accounting, Auditing, Mercantile Laws, Corporate Laws,
Economics, Management (including Financial Management), Taxation
(including Direct Tax Laws and Indirect Tax Laws), Costing, Business
Administration or Management Accounting;

OR

Graduates or Post Graduates other than those falling under Commerce
stream mentioned earlier having secured in aggregate a minimum of 60% of
the total marks or its equivalent grade in the exam conducted by any
recognized University (including Open University).



• Those who have passed the CS Executive Exams conducted by the
Institute of Company Secretaries of India or Candidates who have cleared
the CWA Inter Exams conducted by the Institute of Cost Accountants of India.



For the purpose of computation of percentage, the following points have been
clarified by ICAI:-

1. For subjects in which one is only required to obtain passing marks and
for which no credits are given by the University, the marks secured in such
subjects are not included while computing the percentage.

2. Any percentage of half or more should be rounded up to the next whole
number.