Exemption help

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

06 February 2013 i appeared for ipcc nov 12. i failed both the groups but secured 67 marks i.e an exemption in accounting. i want to surrender and appear for all exams in may 13 because i want to prepare for rank. will surrendering the rank be harmful for me?

CA Suraj Lakhotia

CA Suraj Lakhotia (Expert)
Follow

06 February 2013 It wont be harmful. Did someone tell you that it would be harmful?

If you are confident of clearing all papers at a go, you might very well surrender your exemption.

Ajay Mishra

Ajay Mishra (Expert)
Follow

06 February 2013 Hi

a candidate who has appeared in all the papers comprised in a group and fails in one or more papers comprised in a group but secures a minimum of 60 percent of the marks in any paper or papers of that group shall be eligible to appear at any one or more of the immediately next three following examinations in the paper or papers in which he secured less than 60 percent marks. He shall be declared to have passed in that group if he secures at one sitting a minimum of 40 percent marks in each of such papers and a minimum of 50 percent of the total marks of all papers of that group including the paper or papers in which he had secured a minimum of 60 percent marks in the earlier examination referred to above. He shall not be eligible for any further exemption in the remaining paper(s) of that group until he has exhausted the exemption already granted to him in that group.”;
Candidates may also visit the Frequently Asked Questions Section on the Institute website www.icai.org for more details on this subject.

Upgrade to CAclubindia Pro. Subscribe Now!

Ajay Mishra

Ajay Mishra (Expert)
Follow

06 February 2013
Surrender of Exemption

It has also been decided to allow the candidates to give option for surrendering the valid exemption already secured, in toto, in a paper or papers on the basis of 60 per cent marks, on the conditions that (i) exemption surrendered once shall be effective for all times to come for all the chances (i.e. up to a maximum of three immediate next examinations or all remaining chance/s) and under no circumstances the candidates shall be allowed to claim the surrendered exemption in future; and (ii) on furnishing an affidavit to this effect and in the prescribed proforma (which can be obtained from the Institute on request) on a non-judicial stamp paper of the value as applicable in the respective State, candidates can exercise the option to surrender the exemption at any time during the currency of the validity of exemption but before the date prescribed for doing so i.e. 6th March, 2013 in the case of May, 2013 examinations.
A candidate who wants to surrender the valid exemption, in toto, secured in a paper or papers on the basis of 60 per cent marks in any of the immediate last three examinations (i.e. November 2011, May 2012 and November 2012) is advised in his own interest to write separately to the Additional Secretary (Exams.) informing him of his decision to surrender the exemption, in toto, along with a photocopy of the relevant Statement of Marks to enable the office to send further details in this regard and the proforma of the affidavit to be executed by the candidate. Candidates should note carefully that the surrender of exemption shall become effective only after furnishing the requisite affidavit and on issue of confirmation letter to this effect by the Institute.

Candidates are advised in their own interest, to send the letter for surrender of exemption separately by REGISTERED POST / SPEED POST to the Additional Secretary (Exams.) so as to reach him on or before 6th March, 2013 and the same should not be enclosed along with the examination form. The Institute shall not accept the responsibility for any such request not received upto 6th March, 2013 or sent along with the examination form in the same envelope. Candidates are also advised not to write about their intention / decision to surrender the exemption in the examination form and no cognizance of such writing/noting/request in the examination form will be taken