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Happy CA Day to all our Students. Feel Proud to be part of this Profession

Hi all
ICAI has released FAQs relating to implementation of New Scheme

CA New Course Prospectus

Transition Scheme

Imp Points regarding New Course

1) All Existing Students would be automatically Converted to New course , without payment of any fees (after Nov 23 or Dec 23) results are declared

2) Students who have already started articleship till 30th June 2023 will have to do 3 years Articleship only but their Final Exams will be as per New Syllabus only

3) Students who have already passed 1 Group of CA Inter but not yet started Articleship till 30th June

They can start articleship only after passing both groups but their articleship will be 2 years (not 3 years)

4) Students who have already registered in Direct Entry scheme, they will be automatically shifted to new course and they will be entitled to give May 24 Inter exams without completing any 9 months Articleship 🥳🥳🥳

6) Foundation Students who have just given June 23 exams will have to register for CA Inter till 1st September (result will come in July) and they will have to give CA Inter May 24 as per New Scheme only

7) Most Important doubt that I am getting

If any CA Inter student who has appeared in Nov 23 exams but cleared only 1 group (or got some exemptions) then for May 24 new syllabus, which papers will be exempt under new syllabus has not been notified. ICAI will bring separate notification for it

8) Under Direct Entry, new eligibility criteria says that Student can appear in CA Inter exams after 8 months from Provisional registration (not finalised registration)

This means you can register while being in last year of graduation, and give Nov 24 exams (if your graduation result come in June/July 24)

9) CA Inter Students who will clear only 1 group in May 23 exams (result to be declared in July only) cant start articleship unless they clear the other group also. Articleship wl be of 2 years only

10) Big Relief for Foundation Students 😅😅

Passing Criteria for Foundation exams will remain the same in new scheme as well - 40% in each subject and overall 50%

(Proposal was to increase it to 50% in each subject, but that hasnt been implemented) 👍👍

11) Validity of CA Foundation registration will be 4 years, cant be revalidated. So this means Maximum 8 attempts of CA Foundation

Validity of CA Inter will be 5 years bt it can be revalidated again for 5 years. So this means maximum 20 attempts for CA Inter

But no limit on number of attempts in CA Final