Cpt or ipcc

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

06 June 2012 Dear Sir,

I have completed my Graduation(BCOM) with 52.26% in May2008. Can i apply for IPCC directly or have to give CPT also.

Please suggest.

Thanks & REgards,
Anish jain

Ajay Mishra

Ajay Mishra (Expert)
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06 June 2012 Hi

As per notification issued by Institute on 23.02.2012 following clause has been inserted in Regulation 25D in Chartered Accountant Regulations, 1988:

“(1A) Any graduate or post graduate referred to in sub-clause (ix) of regulation 2 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 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
(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 recognised University (including Open University);
(1B) Any candidate who has passed the Intermediate examination conducted by the Institute of Cost and Works Accountants of India set up under the Cost and Works Accountants Act, 1959 (23 of 1959) or by the Institute of Company Secretaries of India set up under the Company Secretaries Act, 1980 (56 of 1980) 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.”.

Regards

Querist : Anonymous

Querist : Anonymous (Querist)

07 June 2012 Dear Ajay,

Thanks for the reply.
That means im not eligible for IPCC exam. I Have to clear CPT first. Right????

Regards

Ajay Mishra

Ajay Mishra (Expert)
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07 June 2012 Hi

Yes, it is required to qualify CPT first before going to register himself in IPCC.

Regards

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