MCA Rejects ICAI’s Plea Against ICTPI in ‘Chartered’ Title Dispute

The ICAI, which has been in charge of the chartered accountancy profession in India since 1949, said that ICTPI’s name and its course called “Chartered Tax Practitioners” might confuse people, and it goes against Section 24A of the Chartered Accountants Act, 1949.
The Ministry of Corporate Affairs (MCA) has dismissed a petition brought by the Institute of Chartered Accountants of India (ICAI) against the Institute of Chartered Tax Practitioners of India (ICTPI) for alleged improper use of the term 'Chartered' in its name.
Passing marks per paper in CA Intermediate is 40 percent and overall 50 percent. If a candidate scores less than the minimum passing marks, they will have to reappear. So, during the preparation, one should focus on crossing the 40 % mark in individual papers. Even if you don't pass in one paper, you will still have to complete it as backlog.
The minimum eligibility criteria for pursuing CA course is class 12 pass or equivalent from a recognised institute or university. Candidates who have completed graduation can directly take admission at CA Intermediate level. Check below:
CA Foundation Eligibility Criteria
- Candidates who have passed Class 12 or equivalent examination from a recognised board are eligible.
Candidates who have:
- Registered with Board of Studies on or before 30 June of the examination year
- Changed to CA Foundation Course with Board of Studies of ICAI on or before September 7 of the examination year.
CA Intermediate Eligibility Criteria
- Candidates who have passed CA Foundation examination or equivalent examination are eligible
- Candidates who have registered for previous CA Intermediate exam as per syllabus under paragraph 2 or 2A of Schedule B or Professional Education (Course-II), Professional Competence Course and converted into Intermediate (IPC) Course/ Accounting Technician Course (ATC) are eligible
- Candidates who have completed graduation or post-graduation in any stream from a recognised institute of India are also eligible
CA Final Eligibility Criteria
- Candidates who have passed the CA Intermediate examination or Professional Education Examination – II/PCC/IPCC, are eligible to apply for the CA Final exam
- They must also have completed 3 years or 3½ years or must be due to complete, as the case may be, of article training as on the date of filling the form
- For PE-II stream student and PE-II stream students converted to IPCC – Also, they must be serving the last twelve months of articled training including excess leave, if any, and due to complete 3 years on or before October 31 of the examination year.
- For PCC stream students - The candidate must be serving the last six months of articled training including excess leave if any, and due to complete 3½ years on or before 30th April of the examination year
- For Intermediate IPCC students – The candidate must be serving the last six months of training including excess leave if any, and due to complete 3 years on or before April 30 of the examination year.
- For students converted from PE-II to PCC as well as for students converted from PE-II to PCC and then to IPCC - The candidate must be serving the last twelve months of training including excess leave if any, and due to complete 3½ years articles on or before October 31 of the examination year.
- Candidates who have taken termination are advised to re-register for the balance period of training
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In the CA course, candidates can make any number of attempts until they clear a particular level. They will be eligible to register for the next level only after clearing the previous level. For example, a candidate needs to clear the CA Foundation level to be able to register for CA Intermediate. For appearing in CA Final exams, a candidate needs to clear both Foundation and Intermediate levels.
Since, the level of difficulty of this course is very high, a maximum percentage of students make multiple attempts. Candidates who decide to pursue CA course, need to make sure that they are well prepared to a marathon of studies, preparation and exams.