ICAI Allows CA Final Candidates to Opt for Permanent Exemptions: Know Key Details Here [Read Guidelines]

The Institute of Chartered Accountants of India ( ICAI ) has allowed the Chartered Accountancy ( CA ) Final candidates to make their exhausted exemptions permanent. This update applies to candidates who secured exemptions in the May 2023 examination, which were valid until the November 2024 exam. Such candidates will have the option to convert these exemptions into permanent ones after the declaration of the November 2024 results.

Key Guidelines for Making Exemptions Permanent

Here are the key guidelines you should know making the exemptions permanent:

1. The CA Candidates who secured exemptions in the May 2023 exam, which would have otherwise expired after the November 2024 exam, can opt to make them permanent from March 1, 2025, to March 20, 2025, through the Self Service Portal (SSP) Dashboard.

2. Once an exemption is made permanent, candidates must pass the remaining papers of the relevant group with at least 50% aggregate marks as per Regulation 38D(8) of the ICAI Final Course.

3. If a candidate holds exemptions in two papers of the same group, both exemptions must be made permanent together, or both will lapse—partial exemption retention is not allowed.

4. Candidates will have only one opportunity to opt for permanent exemptions. If they do not apply within the given window, the exemption will be permanently lost.

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5. There will be no correction window or an option to apply with a late fee after the specified period.

6. If a candidate has opted for a Permanent Exemption (50PE) in a group, no further exemptions will be granted in that group.

7. Candidates securing exemptions in Paper-4 or Paper-5 of CA Final in May 2022, November 2022, May 2023, or November 2023 exams will automatically get permanent exemption from appearing in Self-Paced Module Set-A and Set-B, respectively, and need not apply separately.

8. Candidates who opt for a permanent exemption will have their exempted marks limited to 50 marks, and any excess marks from that paper will not be counted toward the 50% aggregate requirement of the same or another group.

9. Candidates also have the option to surrender a permanent exemption and reappear in the paper if they wish.

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ICAI has previously issued guidelines regarding exemption rules during the transition from the old to the new scheme, which candidates can refer to in the announcement dated August 24, 2023 (Read Here). 

For detailed instructions and updates, candidates can visit the ICAI exam portal at www.icai.org.

To Read the full text of the Guidelines CLICK HERE

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