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Most Important for Announcement for Nov 2023 !! ICAI Notifies Exemption from appearing in Papers or Group in May 2024

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ANNOUNCEMENT24th August 2023
Exemption(s) from appearing in paper(s) or Group of Chartered Accountancy Examinations under the New Scheme of Education and Training w.e.f. May 2024 ExaminationNew Scheme of Education and Training of the Institute of Chartered Accountants of India has been implemented with effect from 1st July 2023. The examination at Intermediate and Final levels under the New Scheme of Education and Training will be held with effect from May 2024 Examination.The Council of the Institute has decided to grant exemptions under New Syllabus approved by it for Intermediate Examination (under sub-regulation (4) of regulation 28G of the Chartered Accountants Regulations, 1988) and for Final Examination (under clause (v) of regulation 31 of the Chartered Accountants Regulations, 1988) to existing students for papers passed by them under the Old/Existing Scheme as follows: –

  1. Final Examination:
  2. Paper-wise exemption on the basis of securing sixty per cent or more marks:

The Council decided (under sub-regulation (5) of regulation 38D of the Chartered Accountants Regulations, 1988) to continue to award exemption in a paper or papers to a candidate, granted earlier under Old/Existing Scheme (by virtue of having secured a minimum of sixty percent marks in one or more papers in a Group/s as per the existing criteria for grant of exemption), for the unexpired chance(s) of the exemption in the corresponding paper(s) approved by the Council under New Scheme as given below:

Paper(s) under Existing SchemeCorresponding paper(s) under New Scheme
Paper 1: Financial ReportingPaper 1: Financial Reporting
Paper 2: Strategic Financial ManagementPaper 2: Advanced Financial Management
Paper 3: Advanced Auditing and Professional EthicsPaper 3: Advanced Auditing, Assurance and Professional Ethics
Paper 4: Corporate and Economic LawsSelf-Paced Online Module SET A: Corporate and Economic Laws
Paper 5: Strategic Cost Management and Performance EvaluationSelf-Paced Online Module SET B: Strategic Cost & Performance Management
Paper 6: Elective PaperPaper 6: Integrated Business Solutions
Paper 7: Direct Tax Laws and International TaxationPaper 4: Direct Tax Laws & International Taxation
Paper 8: Indirect Tax LawsPaper 5: Indirect Tax Laws
  1. Details of papers/ group in which candidates are required to appear and pass in Final Examination under New Scheme:

The Council decided that a candidate who has passed in any one but not in both the groups of the Final Examination under Existing Scheme shall be eligible for exemption in that particular group and shall be required to appear and pass in the remaining group / paper(s) in order to pass the Final Examination under New Scheme as given below:

Group passed under Existing SchemePapers passed under Existing SchemeCorresponding exemption under New SchemePapers required to be passed under New Scheme
Group-IPaper 1: Financial ReportingPaper 1: Financial ReportingPaper 4: Direct Tax Laws & International Taxation
Paper 5: Indirect Tax Laws
Paper 6: Integrated Business Solutions
Self-Paced Online Module SET B: Strategic Cost & Performance Management*
Paper 2: Strategic Financial ManagementPaper 2: Advanced Financial Management
Paper 3: Advanced Auditing and Professional EthicsPaper 3: Advanced Auditing, Assurance and Professional Ethics
Paper 4: Corporate and Economic LawsSelf-Paced Online Module SET A: Corporate and Economic Laws
Group-IIPaper 5: Strategic Cost Management and Performance EvaluationSelf-Paced Online Module SET B: Strategic Cost & Performance ManagementPaper 1: Financial Reporting
Paper 2: Advanced Financial Management
Paper 3: Advanced Auditing, Assurance and Professional Ethics
Self-Paced Online Module SET A: Corporate and Economic Laws*
Paper 6: Elective PaperPaper 6: Integrated Business Solutions
Paper 7: Direct Tax Laws and International TaxationPaper 4: Direct Tax Laws & International Taxation
Paper 8: Indirect Tax LawsPaper 5: Indirect Tax Laws

* Final Course Students appearing in May 2024 Examination under New Scheme may qualify Self-Paced Online Modules, as applicable, after passing May 2024 Examination but before applying for membership. Thereafter, the candidate would be eligible for subsequent examination only after qualifying Self-Paced Online Modules, as applicable.Students who have appeared in Final Old/ Existing Scheme and converting to Final New Scheme are exempted from appearance in Self-Paced Online Module SET C and SET D.

  1. Intermediate Examination:
  1. Paper-wise exemption on the basis of securing sixty per cent or more marks:

The Council decided (under sub-regulation (7) of regulation 37D of the Chartered Accountants Regulations, 1988) to continue to award exemption in a paper or papers to a candidate, granted earlier under Old/Existing Scheme (by virtue of having secured a minimum of sixty percent marks in one or more papers in a Group/s as per the existing criteria for grant of exemption), for the unexpired chance(s) of the exemption in the corresponding paper(s) approved by the Council under New Scheme as given below:

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Paper(s) under Existing SchemeCorresponding paper(s) under New Scheme
Paper 1: AccountingPaper 1: Advanced Accounting
Paper 2: Corporate and Other LawsPaper 2: Corporate and Other Laws
Paper 3: Cost and Management AccountingPaper 4: Cost and Management Accounting
Paper 4: TaxationPaper 3: Taxation
Paper 5: Advanced AccountingPaper 1: Advanced Accounting
Paper 6: Auditing and AssurancePaper 5: Auditing and Ethics
Paper 7: Enterprise Information Systems & Strategic ManagementPaper 6: Financial Management and Strategic Management
Paper 8: Financial Management & Economics for FinancePaper 6: Financial Management and Strategic Management
  1. Details of paper/unit/group in which candidates are required to appear and pass in Intermediate Examination under New Scheme:

The Council also approved the ?Unit? Scheme for those candidates who had completed one of the Groups under the erstwhile Intermediate Examination under the syllabus as specified in paragraph 2A of Schedule B to the Chartered Accountants Regulations, 1988 (held in November 1994 or thereafter) or Professional Education (Examination II) or Professional Competence Examination (PCE), or Intermediate (Professional Competence) Examination, or Integrated Professional Competence Examination or Intermediate (IPC) Examination or Intermediate Examination and are desirous of completing the Intermediate Course (New) Syllabus as given below:

ScenarioDetails of paper/unit/group passedPapers passed under Old/Existing SchemeCorresponding exemption under New SchemePapers required to be passed under New Scheme at IntermediateSelf-Paced Online Modules to be passed before appearing in FinalExamination
IGroup-I passed in Intermediate under Paragraph 2A of Schedule ?B? (i.e. November 1994 or later) or Professional Education Examination?II or Professional Competence ExaminationPaper 1: Advanced Accounting/ AccountingGroup I Paper 1: Advanced AccountingUnit 1
Group I Paper 3: Taxation
Group II Paper 4: Cost and Management Accounting
Group II Paper 6: Financial Management and Strategic Management
SET A: Corporate and Economic Laws
SET B: Strategic Cost & Performance Management
SET C:Specialization (elective)
andSET D: Multi- disciplinary (elective)
Paper 2: Auditing/ Auditing and AssuranceGroup II Paper 5: Auditing and Ethics
Paper 3: Corporate and Other Laws/ Business and Corporate Laws/ Law, Ethics and CommunicationGroup I Paper 2: Corporate and Other Laws
IIAGroup-I passed in Intermediate under Paragraph 2A of Schedule ?B? (i.e.November 1994 or later) or Professional Education Examination?II or Professional Competence Examination and subsequently passed Unit 6 in Integrated Professional CompetenceExamination/Paper 1: Advanced Accounting/ AccountingGroup I Paper 1: Advanced AccountingUnit 1A
Group I Paper 3: Taxation
Group II Paper 4: Cost and Management Accounting
SET A: Corporate and Economic Laws
SET B: Strategic Cost & Performance Management
SET C:Specialization (elective)
Paper 2: Auditing/ Auditing and AssuranceGroup II Paper 5: Auditing and Ethics
Paper 3: Corporate and Other Laws/ Business and Corporate Laws/Law, Ethics andGroup I Paper 2: Corporate and Other Laws
Intermediate (Integrated Professional Competence) ExaminationCommunicationandSET D: Multi- disciplinary (elective)
Paper 7: Information Technology and StrategicManagementGroup II Paper 6: Financial Management and StrategicManagement
IIBGroup-I passed in Intermediate under Paragraph 2A of Schedule ?B? (i.e.November 1994 or later) or Professional Education Examination?II or Professional Competence Examination and subsequently passed Unit 6A in Intermediate ExaminationPaper 1: Advanced Accounting/ AccountingGroup I Paper 1: Advanced AccountingUnit 1A
Group I Paper 3: Taxation
Group II Paper 4: Cost and Management Accounting
SET A: Corporate and Economic Laws
SET B: Strategic Cost & Performance Management
either ofSET C:Specialization (elective)
orSET D: Multi- disciplinary (elective)
Paper 2: Auditing/ Auditing and AssuranceGroup II Paper 5: Auditing and Ethics
Paper 3: Corporate and Other Laws/ Business and Corporate Laws/ Law, Ethics and CommunicationGroup I Paper 2: Corporate and Other Laws
Paper 7: Enterprise Information Systems & Strategic Management



Group II Paper 6: Financial Management and Strategic Management
Paper 8: Financial Management & Economics for Finance
IIIGroup-I passed in Intermediate under Paragraph 2A of Schedule ?B? (i.e.November 1994 or later) or Professional Education Examination?II or Professional Competence Examination and subsequently passed Unit 4/4A in Integrated Professional Competence Examination/ Intermediate (Integrated Professional Competence) Examination/ Intermediate ExaminationPaper 1: Advanced Accounting/ AccountingGroup I Paper 1: Advanced AccountingUnit 1B
Group II Paper 6: Financial Management and Strategic Management
SET A: Corporate and Economic Laws
SET B: Strategic Cost & Performance Management
SET C:Specialization (elective)
andSET D: Multi- disciplinary (elective)
Paper 2: Auditing/ Auditing and AssuranceGroup II Paper 5: Auditing and Ethics
Paper 3: Corporate and Other Laws/ Business and Corporate Laws/ Law, Ethics and CommunicationGroup I Paper 2: Corporate and Other Laws
Paper 3: Cost Accounting and Financial Management/Cost and Management AccountingGroup II Paper 4: Cost and Management Accounting
Paper 4: TaxationGroup I Paper 3: Taxation
IVGroup-II passed inPaper 4: CostGroup II Paper 4:Unit 2SET A: Corporate
Intermediate under Paragraph 2A of Schedule ?B? (i.e. November 1994 or later) or Professional Education Examination?IIAccounting/ Cost Accounting and Financial ManagementCost and Management Accounting
Group I Paper 1: Advanced Accounting
Group I Paper 2: Corporate and Other Laws
Group II Paper 5: Auditing & Ethics
Group II Paper 6: Financial Management and Strategic Management
and Economic Laws
SET B: Strategic Cost & Performance Management

either ofSET C:Specialization (elective)
orSET D: Multi- disciplinary (elective)
Paper 5: Income Tax and Central Sales TaxGroup I Paper 3: Taxation
Paper 6: Organisation & Management and Fundamentals of Electronic Data Processing/ Information Technology
VGroup-II passed In Professional Competence ExaminationPaper 4: Cost Accounting and Financial ManagementGroup II Paper 4: Cost and Management AccountingUnit 2A
Group I Paper 1: Advanced Accounting
Group I Paper 2: Corporate and Other Laws
Group II Paper 5: Auditing and Ethics
SET A: Corporate and Economic Laws
SET B: Strategic Cost & Performance Management
SET C:Specialization (elective)
andSET D: Multi- disciplinary (elective)
Paper 5: TaxationGroup I Paper 3: Taxation
Paper 6: Information Technology and Strategic ManagementGroup II Paper 6: Financial Management and Strategic Management
VIGroup-II passed in Intermediate under Paragraph 2A of Schedule ?B? (i.e.November 1994 or later) or Professional Education Examination?II and subsequently passed Unit 5/5A in Integrated Professional Competence Examination/ Intermediate (Integrated Professional Competence) Examination/ Intermediate ExaminationPaper 4: Cost Accounting/ Cost Accounting and Financial ManagementGroup II Paper 4: Cost and Management AccountingUnit 2B
Group I Paper 2: Corporate and Other Laws
Group II Paper 6: Financial Management and Strategic Management
SET A: Corporate and Economic Laws
SET B: Strategic Cost & Performance Management

either ofSET C:Specialization (elective)
orSET D: Multi- disciplinary (elective)
Paper 5: Income Tax and Central Sales TaxGroup I Paper 3: Taxation
Paper 6: Organisation & Management and Fundamentals of Electronic Data Processing/ Information Technology
Paper 5: Advanced AccountingGroup I Paper 1: Advanced Accounting
Paper 6: Auditing and AssuranceGroup II Paper 5: Auditing andEthics
VIIGroup-II passed in Professional Competence Examination and subsequently passed Unit 5/5A in Integrated Professional Competence Examination/ Intermediate (Integrated Professional Competence) Examination/ Intermediate ExaminationPaper 4: Cost Accounting and Financial ManagementGroup II Paper 4: Cost and Management AccountingUnit 2C
Group I Paper 2: Corporate and Other Laws
SET A: Corporate and Economic Laws
SET B: Strategic Cost & Performance Management
SET C:Specialization (elective)
andSET D: Multi- disciplinary (elective)
Paper 5: TaxationGroup I Paper 3: Taxation
Paper 6: Information Technology and Strategic ManagementGroup II Paper 6: Financial Management and Strategic Management
Paper 5: Advanced AccountingGroup I Paper 1: Advanced Accounting
Paper 6: Auditing and AssuranceGroup II Paper 5: Auditing and Ethics
VIIIGroup-II passed in Intermediate under Paragraph 2A of Schedule ?B? (i.e.November 1994 or later) or Professional Education Examination?II and subsequently passed Unit 7/7A in Integrated Professional Competence Examination/ Intermediate (Integrated Professional Competence) Examination/ Intermediate ExaminationPaper 4: Cost Accounting/ Cost Accounting and Financial ManagementGroup II Paper 4: Cost and Management AccountingUnit 2D
Group II Paper 5: Auditing and Ethics
Group II Paper 6: Financial Management and Strategic Management
SET A: Corporate and Economic Laws
SET B: Strategic Cost & Performance Management

either ofSET C:Specialization (elective)
orSET D: Multi- disciplinary (elective)
Paper 5: Income Tax and Central Sales TaxGroup I Paper 3: Taxation
Paper 6: Organisation & Management and Fundamentals of Electronic Data Processing/ Information Technology
Paper 1: AccountingGroup I Paper 1: Advanced Accounting
Paper 2: Business Laws, Ethics and Communication/ Corporate and Other LawsGroup I Paper 2: Corporate and Other Laws
IXGroup-II passed in Professional Competence Examination and subsequently passedUnit 7/7A in IntegratedPaper 4: Cost Accounting and Financial ManagementGroup II Paper 4: Cost and Management AccountingUnit 2E
Group II Paper 5: Auditing andEthics
SET A: Corporate and Economic Laws
SET B: Strategic
Professional Competence Examination/ Intermediate (Integrated Professional Competence) Examination/ Intermediate ExaminationPaper 5: TaxationGroup I Paper 3: TaxationCost & Performance Management
SET C:Specialization (elective)
andSET D: Multi- disciplinary (elective)
Paper 6: Information Technology and Strategic ManagementGroup II Paper 6: Financial Management and Strategic Management
Paper 1: AccountingGroup I Paper 1: Advanced Accounting
Paper 2: Business Laws, Ethics and Communication/ Corporate andOther LawsGroup I Paper 2: Corporate and Other Laws
XGroup-I passed in Integrated Professional Competence Examination/ Intermediate (Integrated Professional Competence) Examination/ Intermediate ExaminationPaper 1: AccountingGroup I Paper 1: Advanced AccountingUnit 2D
Group II Paper 5: Auditing and Ethics
Group II Paper 6: Financial Management and Strategic Management
SET A: Corporate and Economic Laws
SET B: Strategic Cost & Performance Management
SET C:Specialization (elective)
andSET D: Multi- disciplinary (elective)
Paper 2: Business Laws, Ethics and Communication/ Corporate and Other LawsGroup I Paper 2: Corporate and Other Laws
Paper 3: Cost Accounting and Financial Management/Cost and Management AccountingGroup II Paper 4: Cost and Management Accounting
Paper 4: TaxationGroup I Paper 3: Taxation
XIAGroup-II passed in Integrated Professional Competence Examination/ Intermediate (Integrated Professional Competence) ExaminationPaper 5: Advanced AccountingGroup I Paper 1: Advanced AccountingUnit 3
Group I Paper 2: Corporate and Other Laws
Group I Paper 3: Taxation
Group II Paper 4: Cost and Management Accounting
SET A: Corporate and Economic Laws
SET B: Strategic Cost & Performance Management
SET C:Specialization (elective)
andSET D: Multi- disciplinary(elective)
Paper 6: Auditing and AssuranceGroup II Paper 5: Auditing and Ethics
Paper 7: Information Technology and Strategic ManagementGroup II Paper 6: Financial Management and Strategic Management
XIBGroup-II passed in Intermediate ExaminationPaper 5: Advanced AccountingGroup I Paper 1: Advanced AccountingUnit 3
Group I Paper 2: Corporate and
SET A: Corporate and Economic Laws
Paper 6: Auditing and AssuranceGroup II Paper 5: Auditing and EthicsOther Laws
Group I Paper 3: Taxation
Group II Paper 4: Cost and Management Accounting
SET B: Strategic Cost & Performance Management

either ofSET C:Specialization (elective)orSET D: Multi- disciplinary (elective)
Paper 7: Enterprise Information Systems & Strategic Management


Group II Paper 6: Financial Management and Strategic Management
Paper 8: Financial Management & Economics forFinance

Other Important Links

CA Foundation Syllabus Under ICAI New Scheme 2023

CA Inter Syllabus Under ICAI New Scheme 2023

ICITSS & AICITSS Syllabus Under ICAI New Scheme 2023

CA Prospectus ICAI New Scheme 2023

FAQs About ICAI New Scheme 2023

That?s all for now. Stay Connected for more authentic updates.

Jai Hind, Vande Mataram
Team CA Study

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