The Institute of Chartered Accountants of India (ICAI) has announced a crucial update for CA Final candidates regarding permanent exemptions in papers. Candidates who secured exemptions in May 2023 and are set to lose them after the November 2024 exam can now opt to make these exemptions permanent.
Key Highlights of the Announcement
- One-Time Opportunity: Candidates can apply for permanent exemption only once, between March 1, 2025, and March 20, 2025, through their SSP dashboard. If not availed during this period, the exemption will lapse permanently.
- Mandatory Full Group Exemptions: If a candidate has exemptions in multiple papers within the same group (e.g., Papers 1 & 2 of Group I), they must opt for both or let both exemptions lapse. Partial exemptions are not allowed.
- Scoring Requirement: Once an exemption is made permanent, candidates must secure at least 50% marks in the remaining papers of that group to clear it.
- No Correction Window: There will be no option to modify or apply for exemption after the deadline. Candidates must carefully decide before submitting their request.
- Self-Paced Module Exemptions: Candidates who had exemptions in Paper 4 or Paper 5 in May 2022, November 2022, May 2023, or November 2023 will automatically receive permanent exemption from appearing in Self-Paced Module Set A & B.
- Exemption Marks Capping: If an exemption is made permanent, the marks will be capped at 50 and excess marks cannot be considered for the 50% aggregate requirement in the same or other groups.
Official copy of the notification has also been attached
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