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Cma practical training exemption

Sahil Ahuja (Accountant) (75 Points)

04 January 2020

I am B. Com final year student. I have been working for 2 years as a accountant beside my studies for a sole proprietorship business having turnover more than 1 crore rupees. I am planning to register for cma inter in coming June. Will I be able to get practical training on ground of experience. Is it beneficial to do CMA?

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Deepak Gupta (CA Student) (15922 Points)
Replied 06 January 2020

https://icmai.in/studentswebsite/training_prac_train.php

Exemption from Practical Training

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/- online with Debit or Credit Card.
ii. The students whose applications are received & found eligible on or before 31st May will be eligible to appear for June Examination & 30th November will be eligible to appear for December Examinations.
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 in 3(ii) if he 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 (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.

https://icmai.in/upload/Training/Appendix-A.pdf

https://icmai.in/upload/Training/Appendix-B.pdf

Relevant clause for you...
"vi. Any other organization with a turnover of Rs. 50 Lakhs in case service sector or Rs. 1 crore in case of other than service sector."