ICAI direct entry scheme for graduates or post-graduates.CA Foundation exemption

ICAI has introduced a new scheme for graduates or Post graduates to directly enter in CA intermediate. On 1 August 2012 ICAI launched direct entry scheme.In this scheme, ICAI provides relaxation to any graduate or post-graduate student from CA Foundation (CPT) entrance exam. There are some conditions that every student must have to fulfill those conditions to get direct entry. Characteristics of this scheme are - 

Minimum of 55% or above of the total marks or its equivalent grade is essential for any graduate or post graduate from any recognized university (also include open university) in commerce. The applicant has to give any 3 papers out of accounting, auditing, corporate laws, economics, costing, Business Administration or Management Accounting, Mercantile Laws, Management (including Financial Management), Taxation (including Direct Tax Laws and Indirect Tax Laws). 

Graduate or Post graduate in any stream other than commerce required to get aggregate of 60% marks or above of the total marks or its equivalent grade in the examination conducted by any recognized University (including Open University)

Students enrolling for CA course through direct entry scheme have to complete articleship of 3 years during the course, out of which 9 months of articleship must be done before appearing for the intermediate. Only after completing articleship of 9 months the student will be eligible for intermediate.

Students pursuing final year can also apply for provisional registration for CA course. They can also complete ITT Course and Orientation course which is mandatorily required to be completed before starting articleship training.

Moreover, their registration will be confirmed after submission of their mark sheet and pass certificate

ITT course fees 4000

Orientation course fees 3000

ATC fees (optional) 1000

Article registration fees 2000

Registration for both groups 9000 

Students who have enrolled under CPT scheme and fulfills all criteria of direct entry scheme can convert their registration from CPT scheme to Direct entry scheme.

Such students who are converting from CPT scheme to Direct entry scheme are exempted from completion of 9 months of articleship to be eligible to appear for IPCC exam. This relaxation has been granted through the Regulation No. 205 passed on 22nd July 2015 by ICAI

If such students have secured any exemption in any subject then it would be granted to them after conversion to the Direct entry scheme

Reference: ICAIOfficial Website