Clarification about cpt exemption

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Querist : Anonymous

Querist : Anonymous (Querist)

17 March 2012 Dear experts plz clear my doubt regarding notification issued on 23 feb. will the 45 days be considered from notification date or when the copies of gazzete of india on which the ammendments regarding cpt exemption are published are made available to the public. plz rply it z urgent.

Ajay Mishra

Ajay Mishra (Expert)
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17 March 2012 Hi

As per the Notification issued on 23.02.2012 it says that said draft regulation shall be taken into consideration after the expiry of a period of forty-five days from the date on which the copies of the Gazette of India, in which these draft regulations are published, are made available to the public.

Then, as per my calculation after 45 days from publication means as on from 09.04.2012 it will be taken in to consideration.

Regards

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Ankur Garg

Ankur Garg (Expert)
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17 March 2012 No. Till now CPT is mandatory for everyone. You have to wait for the publication in the official gazette.

Who is eligible for CPT Exemption !!!

Draft Notification dated 23.02.2012, issued by ICAI (waiting for final approval) proposed the following:

(A) Any graduate or post graduate 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 recognized 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 recognized University (including Open University);

(B) Any candidate who has passed the Intermediate examination conducted by the Institute of Cost and Works Accountants of India by the Institute of Company Secretaries of India 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.”.
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Querist : Anonymous

Querist : Anonymous (Querist)

17 March 2012 Shoul i go for ipcc coaching or wait as i am eligible for direct entry?

Online classes for CA CS CMA