Sunday, 2 June 2013
Is it correct that Graduates/ Post-Graduates or Intermediate level examination passedstudents of the Institute of Cost Accountants of India or the Institute of Company Secretaries ofIndia are exempt from CPT?
Yes. The following categories of students shall be exempt from passing the Common Proficiency Test (CPT) as per Notification No. 1-CA (7)/145/2012 dated 1st August, 2012:-(A) Graduates or Post Graduates in Commerce having secured in aggregate a minimum of 55% of the total marks or its equivalent grade in the examination conducted by any recognised University (including Open 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 above having secured in aggregate a minimum of60% of the total marks or its equivalent grade in the examination conducted by any recognised University (including
Open University).
Above category of students can commence practical training after undergoing Orientation Course and Information Technology Training (ITT).
Provisional Registration:
Students who are pursuing the Final year of Graduation Course shall be eligible for provisional registration to the Intermediate (Integrated Professional Competence) Course. 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). During the period of provisional registration, a student can undergo and complete Information Technology Training (ITT) and Orientation Course. It is clarified that in their case, the practical training shall commence only on becoming a Graduate with specified percentage of marks. Suchstudents shall be eligible for appearing in the Intermediate (Integrated Professional Competence) examination on completion of nine months of practical training. 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.
OR
(B) 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 or by The Institute of Company Secretaries of India.
Above category of students shall be eligible to appear in the Intermediate (IPC) examination after undergoing study course period of 8 months.
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