An exemption is a way out for many students facing the CA Intermediate and Final exams. The exemption is the situation in which if a student fails in a subject but scores above 60% or more marks in another subject, then they will be exempted from the passing subject and will attend only the ones they have failed. It is only applicable for 3 subjects. There are several CA exemption rules by ICAI that you should be aware of before facing the CA intermediate and final exams. This article will be your guide and answer all your questions regarding the same.
CA Exemption Rules for CA Intermediate and CA Final
Following are the rules when it comes to CA Intermediate and CA Final Exemption:
- A candidate is eligible for exemption only if they have scored a minimum of 60% or more in a paper or papers.
- Candidates must have appeared for all papers of CA Intermediate or Final accordingly.
- An exemption is valid only for 3 exams.
- A candidate is declared to pass if they have scored a minimum of 40% in each subject and aggregate added up to be 50%. This includes the subject the paper candidate has achieved exemption in a previous attempt.
- One cannot claim exemption again in a particular group/ unit until the previous exemption is exhausted.
Exemption Criteria
When it comes to the CA exemption rules, the criteria are the same for CA intermediate course as well as CA Final Course. It is according to these criteria that decide your eligibility for exemption.
The following criteria for exemption in CA Inter and Foundation are based on regulation 38 A of the Chartered Accountants Regulation, 1988 as Published by Notification No. 1-CA(7)/51/2000 dated 14th August 2001.
- The candidate should be present for all papers.
- Candidates should score at least 60% on any paper(s) of the same group.
- A candidate can then attempt for those papers or any particular paper in that group in which they have scored below 60%.
- If candidates score a minimum of 40% in each subject and have a 50% aggregate with 60 marks in their previous exams, only then are they declared to pass.
- Candidates have to specifically mention the exemption subjects.
- The exemption is valid only for the next three attempts.
Implications of CA Exemption Criteria
The above criteria must be met. For that, you have to implement the below conditions:
- You have to ensure that you appear for all papers
- You have to score at least 60% in one of the papers of the same group in which you have failed in the paper(s).
- An exemption is automatically carried forward for the next 3 attempts.
- It is only valid for 3 immediately succeeding papers.
- If you have scored a minimum of 40% in each paper of the group, then you shall be declared a pass in that group.
Procedure for availing of CA Exemption
There is no specific procedure for availing exemption, but the following points are necessary for you to know about.
- The exemption is automatically granted by ICAI to a student appearing in CA Inter or CA Final Exams. The same would be mentioned on the mark sheet awarded to students.
- A student isn’t eligible for another exemption until the previously awarded exemption is exhausted.
- Foe-exempted students, “#” is used against the subjects in which they had scored a minimum of 60%.
- “E” will be marked against the already exempted papers that have been carried forward from the previous examination, provided the exemption is still valid.
Maximum No. of Exemption in CA Intermediate and CA Final Exams
According to the CA Exemption rules, there is no maximum limit to the number of exemptions that can be availed by a student. It only states the fact that a student isn’t eligible for exemption until the previously awarded exemption is exhausted.
Ending Note
Be aware of all the necessities mentioned by the ICAI in their CA Exemption Rules, as it will save you a lot of time and prevent you from making unnecessary mistakes. Please understand that you get enough chances to clear out the examination but ensure you are putting efforts to clear them well.