Exemption

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nitinkhosla (Querist)
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09 October 2016 Can a CA Final student claim exemption in any papers in Other Prof Degrees Exams..?? Like ICSI or CMA etc.. If yes..!! Can u please explain..how.??

nitinkhosla

nitinkhosla (Querist)
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09 October 2016 Can anyone please help in ds..??

Aashok Kumar Sharma

Aashok Kumar Sharma (Expert)
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21 July 2024 Yes, it is possible for a CA Final student to claim exemptions in papers of other professional degrees like ICSI (Institute of Company Secretaries of India) or CMA (Cost and Management Accountancy) exams, provided certain conditions are met. Here’s a general explanation of how exemptions work across professional degrees:

1. **Recognition of Prior Learning**: Many professional bodies recognize the qualifications and exams of other recognized bodies. This recognition allows students who have cleared certain papers in one professional degree to claim exemptions in equivalent papers of another degree.

2. **Eligibility Criteria**: The eligibility for exemptions varies between professional bodies. Typically, you need to have passed specific papers in one degree program and seek recognition of these papers from the other degree program.

3. **Application Process**: To claim exemptions, you usually need to apply directly to the professional body where you wish to claim the exemptions (e.g., ICSI or CMA). The process generally involves submitting relevant documents such as transcripts, mark sheets, and proof of passing the relevant exams.

4. **Equivalence of Papers**: Exemptions are granted based on the equivalence of papers between the two degrees. The professional bodies have frameworks in place to determine which papers from one degree program can be exempted based on the curriculum and learning outcomes of the other degree program.

5. **Exemption Fees**: There might be a fee associated with claiming exemptions, which varies depending on the professional body and the number of exemptions sought.

6. **Validity and Expiry**: Exemptions are usually valid for a certain period, after which they may expire if not utilized. It’s important to check with the respective professional bodies for the validity period of exemptions.

**Example Scenario:**
- A CA Final student who has passed certain papers in the CA Final exams can apply for exemptions in corresponding papers of the ICSI or CMA exams.
- The student needs to verify which papers are eligible for exemption and follow the application process outlined by ICSI or CMA, including paying any required fees and providing necessary documentation.

**Conclusion:**
Exemptions between different professional degrees (such as CA, CS, and CMA) are possible, but they are subject to specific rules and regulations set by each professional body. Students should carefully review the guidelines provided by the respective bodies and follow the prescribed application procedures to claim exemptions effectively.

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