ICAI Clarifies Transition from CA Old Scheme to New Scheme

ICAI - Clarifies - Transition - CA - Old Scheme - New Scheme - ICAI Clarifies Transition - taxscan

As part of the change in the syllabus of the Chartered Accountancy- CA, the ICAI clarifies the transition from old scheme to new scheme.

Students will have the opportunity to switch to the New Scheme of Education and Training without incurring any conversion fees through the Self Service Portal (SSP). If the Study Material was not previously ordered, students can request it under the New Scheme of Education and Training on the Centralized Distribution System (CDS) portal without making any payment.

If you have previously obtained the Study Material, you can place an order for the Study Material under the New Scheme of Education and Training through the CDS portal. However, please note that a payment of Rs.500/- (for Foundation Course) or Rs.1,000/- (for Intermediate Course) or Rs.1,000/- (for Final Course) will be required, depending on the respective course.

Upon conversion to the New Scheme of Education and Training, the validity of your Foundation Course will be extended to a period of four years starting from your first eligible attempt in the Foundation Examination, which in this case would be the June 2024 examination. And in case of Intermediate course and final course, the validity period is 5 years and 10 years respectively.

If a candidate is taking the Final Examination in May 2024, they can fulfill the mandatory requirements for modules SET A and SET B after successfully passing the Final Examination but prior to applying for Institute membership.

However, if the candidate is unsuccessful in the May 2024 Final Examination, they will only be eligible to appear in subsequent Final Examinations after completing the mandatory modules SET A and SET B.

The Students who have qualified both Groups of Intermediate (8 Papers) are exempted from undergoing Self-Paced Online Modules SET-C & SET-D. The exemption in Self-Paced Online Modules in either SET-C or SET-D will be applicable for students who have passed seven papers at the Intermediate level.

According to ICAI, ICITSS (OC & ITT) is a prerequisite for commencing Practical Training under the New Scheme of Education and Training. Since you have already commenced the Practical Training, you need not undergo ICITSS.

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