Practical Training Exemption in CMA for a Chartered Accountant in Practice

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CA Kushwanth AVSR (Querist)
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07 April 2023 Can a Chartered Accountant in Practice who had cleared CMA Inter in 2017 and CMA Final in 2022 can claim exemption from Practical Training under CMA.? If yes please tell the procedure to be followed for claiming exemption and obtaining CMA membership

Mohan Verma

Mohan Verma (Expert)
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16 April 2023 A student of the Institute who is working or has already worked in any of the recognized Organizations as given in ‘Appendix A’ and in any of the recognized areas as given in ‘Appendix B’, can claim exemption from Practical Training by following the procedures given below:
Submission of Online Form T-3 to Directorate of Training and Placement of the Institute along with a Payment for Rs.2000/-.
The students whose applications are received and found eligible on or before 31st May will be eligible to appear for June Examination and 30th November will be eligible to appear for December Examination respectively.
A student can seek exemption from Practical Training immediately after joining the Intermediate course, or at any time during the course of studies subject to dates given above if the student is otherwise eligible.
Documents to be submitted along with Form T-3
Scan copy of Experience certificate (stating designation, area of work & duration), duly signed by the Competent Authority of the organization in which employed/were employed.
Scan Copy of Audited balance sheet of employers or any other proof of turnover, wherever required (A letter mentioning the turnover of the company on the letterhead of the company, signed with seal)
Scan Copy of current salary slip duly attested by employer.
Practicing Chartered Accountants/ Company Secretaries are exempted from the Practical Training Scheme and they will have to seek exemption after duly following the procedures on payment of exemption fee as prescribed above.

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