Cpt exemption

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Ramesh Masaraguppi.

Ramesh Masaraguppi. (Querist)
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12 April 2012 Sir when will approve CPT exemtion to Graduates PLZ inform me sir .....

ca cs shriyans jain

ca cs shriyans jain (Expert)
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13 April 2012 Hopefully by august/september this notification would would be passed by parliament.

Ajay Mishra

Ajay Mishra (Expert)
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13 April 2012 Hi

Notification dated 23.02.2012 will be made available for public on 09.04.2012 but on this final approval from institute is still awaited. So wait till the final verdict.....

Ankur Garg

Ankur Garg (Expert)
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14 April 2012
No. Till now CPT is mandatory for everyone.
CPT exemption proposal is still pending.

Who is eligible for CPT Exemption !!!

Draft Notification dated 23.02.2012, issued by ICAI (waiting for final approval) proposed the following:

(A) Any graduate or post graduate shall be exempted from passing the Common Proficiency Test under this regulation if such person is a -

(i) graduate or post graduate in commerce having secured in aggregate a minimum of fifty-five per cent. of the total marks or its equivalent grade in the examination conducted by any recognized 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

(ii) Graduates or post graduates other than those referred to in clause (i), having secured in aggregate a minimum of sixty per cent. of the total marks or its equivalent grade in the examination conducted by any recognized University (including Open University);

(B) Any candidate who has passed the Intermediate examination conducted by the Institute of Cost and Works Accountants of India by the Institute of Company Secretaries of India shall also be exempted from passing the Common Proficiency Test under this regulation.

Explanation.- For the purpose of sub-regulations (1A) and (1B),-

(i) for calculating the percentage of marks, the marks secured in subjects in which a person is required by the University (including open University) to obtain only pass marks and for which no special credit is given for higher marks, shall be ignored; and

(ii) any fraction of half or more shall be rounded up to the next whole number.”

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