Eligibility for CA Intermediate Exams After Completing CA Foundation
Completing the CA Foundation exam in November 2020 does not allow you to appear for the CA Intermediate exam in May 2021. The Institute of Chartered Accountants of India (ICAI) requires a minimum study period of 9 months between the CA Foundation and CA Intermediate exams. This ensures a proper understanding and preparation for the more advanced level of the Chartered Accountancy course.
ICAI Rules and Regulations
According to the ICAI rules, the period of 9 months is mandatory to be completed before attempting the CA Intermediate exam. This means that if you clear the CA Foundation exam in November 2020, you will not be eligible to appear for the intermediate exams in May 2021. Instead, you will have to wait for a minimum of 9 months, or until November 2021, to attempt the CA Intermediate exams.
Relaxation for Recent Applicants
However, the ICAI has introduced a relaxation for those who appeared for the CA Foundation in July 2021. These candidates are eligible to appear for the CA Intermediate exam in May 2022. Thus, if you completed your CA Foundation in December 2021, your first attempt at the CA Intermediate exam would be in November 2022.
Important Points to Remember
Minimum Study Period: The 9-month study period is a strict requirement. It is advisable to use this time wisely to study and prepare for the intermediate exams. Timeline: Following the ICAI guidelines, you must wait for at least 9 months before your first attempt at the CA Intermediate exam. Regulation for Future Attempts: If you fail in your first attempt, you are allowed to write the exam again in May 2022, provided you wait for the prescribed study period.Conclusion
To summarize, if you clear the CA Foundation exam in November 2020, your first attempt at the CA Intermediate exams will be in November 2021. It is crucial to adhere to the ICAI guidelines to ensure a smooth and successful progression in your Chartered Accountancy journey. Remember, thorough preparation and compliance with study periods are key to achieving your professional goals.
Advice: Always refer to the ICAI official website for the most up-to-date information and guidelines. Following these guidelines will help you avoid any confusion and ensure a successful exam attempt.