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Should we learn all sections, subsections and clauses in CA Final Law?

In the paper No. 4 of CA Final i.e. Corporate and Allied Laws, it is desirable to support answers with relevant sections, sub-sections and clauses on the matter wherever necessary. Extra efforts are to be made at least on learning the Section numbers. If by any chance, students do not remember the Section numbers,  ubsections and clauses while answering any question in the examination paper on the subject, they may not lose heart on this score. They may otherwise strengthen their answer by appropriate reasoning and
examples. However, they may desist from citing wrong Section numbers, sub-sections and clauses.

What is the reason for delay in result?

Normally the results are declared on time. In exceptional cases, there could be delay of one or two days due to unavoidable reasons. Moreover, one needs to appreciate that number of students has increased quite a bit over the past few years and since last two years, a gap between two papers has also been there increasing the overall duration of exam

Presentation and handwriting count. But, do they play a substantial role in exam?

If your answer is correct and it is presented nicely and in good hand-writing, it is surely going to fetch you good marks than an answer which is correct but which is not presented nicely. But if your answer is conceptually wrong, howsoever good the presentation may be, you are not going to get marks.

Will International Accounting Standards be applicable at IPCC stage or at Final stage?

An overview of IAS/IFRS is covered in the syllabus of Financial Reporting at a Final level only. They are not applicable to Inter (IPC) level.

Can you please explain what is the exact method of paper marking, I mean whether there is step by step marking or not?

Yes, step by step marking is there while checking the papers.

Whether the Institute rechecks or revalues answer papers?

There is a process of verification of marks covers only.
There is no provision for re-evaluation of the answer books.

In CPT the requirement of individual passing of 30% is for individual session or individual subjects?

Individual passing of 30% is applicable for individual subject and not individual session

Why is it mandatory to attempt papers for which no exemption is there to take exemption in other subjects?

This is as per the CA Regulation, 1988, please read the FAQs on Exemptions given under the FAQs relating to Examination on the Institute’s website.

Can we take Final examination before completing article-ship? (As 3 years article-ship is a long duration).

Yes, you can take the Final examination during the last six months of articleship.

Please explain if a student gets exemption in one subject in 1st attempt and also gets exemption in another subject in the next attempt, why is not considered?

This is as per the CA Regulation, 1988; please read the FAQs on Exemptions given under the FAQs relating to Examination on the Institute’s website.

Why Final exam attempts is after 2½ years after articleship registration? It is too long period. Can it be shortened?

It is as per rules of the Institute. It cannot be changed unless CA Regulations are amended to that effect

What is the criteria for negative marking for CPT?

For every wrong question, 0.25 marks are deducted.

Will the format of question in paper be the same as given in the modules & manuals

Not necessarily.

Is there any change in CPT paper/syllabus this year?

There is no change in Syllabus for CPT, however, it is advisable to study from latest study material provided by the Institute.

Will DTC be applicable in May 2014

It is too early to say, as DTC has not come into effect till now.

What things are required in answer sheet so that it should be considered as a good paper.

Please refer to Booklet “How to Face CA examinations?” for have a better understanding of dealing different papers of CA course.

Are sections in law asked in CPT exam?

No. The students at CPT level are expected to have basic conceptual knowledge of the legal provisions of the laws

Negative list of service tax, is it applicable in Nov 2012 or in further exam?

Amendments made by Finance Act 2012 including Negative List of services etc. are not applicable for November 2012 examination. They will be applicable for May 2013 exams onwards.

How important is it to quote case laws in subjects like law and tax. Will we lose marks by not quoting unless demanded by the question?

Try to quote relevant section numbers/case laws, wherever possible. However, it is better not to quote than to misquote a section number/case law

If the question carries 16 marks, if I answer it in a precise manner, in a single page, will the examiner give full marks? Does the weight of paper matter?

The answer should be correct and comprehensive. All steps, assumptions and working notes should form a part of the answer. Besides, answers presented in a good manner carry better marks.

What do you do with the uncorrected answers which are found at the time of re-totaling?

They are marked.

If we do not attempt the compulsory question, what is the impact? Whether zero marks will be awarded or some additional marks will also be deducted?

No marks will be awarded for the unattempted compulsory question.

Is criteria for 1st attempt student and a 3rd attempt in checking exam copies different?

No, the criteria is same for all the papers.

In Nov 2012 Exams the Revised Schedule VI is applicable, please guide us, from where and how we can study these amendments/changes? Are we getting any supplementary material for the same as we get in taxation papers?

At IPCC level, Revised Schedule VI has been incorporated in unit 1 of chapter 2 of Paper 1: Accounting Study Material. Also, all the questions of the companies have been modified as per the requirements of the Revised Schedule VI at IPCC and Final level. The Institute had also issued a Guidance Note on ‘Revised Schedule VI to the Companies Act, 1956’ for further clarification of certain issues on it. Students are recommended to read the Guidance Note for better understanding.

In a theoretical question of 8 marks, how much does an examiner expect to be written?

The answer should be precise, comprehensive and to the point.

In theory paper, whether we have to write the answer in proper book language or we can write in our own simple words.

Mostly you are expected to write answers in your own language but sometimes the question may demand you to write proper book language. (quoting of case law etc.)

How and where can we get the evaluated answer sheet?

You have to contact the Exam. Dept. of ICAI.

Is the rule of securing compulsory 30% marks in individual CPT subject applicable in December, 2012

No, it is applicable from June, 2013 examination.

Finance Act, 2012 announced GAAR. But finance ministry has deferred it to 2014. Will GAAR apply to May 2013 exam?

Since A.Y.2013-14 is the applicable assessment year for May 2013 exam and the provisions of GAAR are not applicable for A.Y.2013-14, the same would not be relevant for May 2013 examination.

Which type of question can be asked from revised schedule VI in November 2012 Final exam?

Questions on financial statements of the companies and disclosure requirements thereon may be asked in the examination

CA exam should judge the intellectual ability of students and their preparation. Why are they testing our handwriting’s speed? Can’t there be three and half or four hours time for a paper.

Generally, papers are set in a manner that an average student with the average speed of handwriting can complete the paper in three hours.

What are the do’s and don’ts that we should consider while facing the IPCC exam. What should we keep in mind for scoring high?

Please refer to Booklet on “How to Face CA examinations?

Is experience gained in articleship useful in clearing final paper.

The experience gained in articleship is quite helpful in your Final exams as the practical exposure gained during articleship helps you to tackle practical problems in a confident manner.

What does ICAI expect students to be in the matters of: Approach to exam, Knowledge base

We expect students to thoroughly go through the study material provided by the Institute. In addition, they are expected to attempt questions from different sources in order to have a good practice of the computational problems. They are also expected to attempt RTPs, Suggested Answers, Mock Test Papers, Practice Manuals provided by the Institute under examination conditions.
CPT students are expected to have basic knowledge, IPCC students are expected to have working knowledge and Final students are expected to have expert knowledge of their respective subjects.

My friend got one exemption in May attempt in Group-I and he also got another exemption in the same group in Nov attempt but still he failed. Can he avail both the exemptions in next May attempt.

Please read the FAQs on Exemptions given under the FAQs relating to Examination on the Institute’s website.

Is it necessary to write the answer in the serial order?

It is not necessary to write the answer in the serial order. But you should mention the correct question number clearly.

Why has the orientation of the papers of Law (IPCC) been changed from case studies to theory?

The students coming at the IPCC level are the CPT pass outs who have come across with basic concepts of law. When they appeared in the examination, they faced problem in attempting the questions based purely on the case studies/ practical oriented. Looking at the interest of the students at IPCC level, the orientation of paper of Law changed from case-studies to theory with the expectation of having working level of knowledge of the legal provisions in the various commercial situations students coming at the IPCC level are the CPT pass outs who have come across with basic concepts of law. When they appeared in the examination, they faced problem in attempting the questions based purely on the case studies/ practical oriented. Looking at the interest of the students at the IPCC level, the orientation of the paper of Law changed from case-studies to theory with the expectation of having a working level of knowledge of the legal provisions in the various commercial situations

In the recent exam results, the marks scored by students were far more than the average mark scored by students earlier. Has ICAI diluted the way of allocating marks?

No, there is no dilution in the standard. Everything depends on your performance.

Does ICAI have a benchmark passing rate set for every attempt? If not, then if two students write a exam for 85 marks, why one will pass and other won’t ?

No, there is no set benchmark for any attempt. The marks depend upon the quality of the answers and not upon the number of questions attempted

My final examination attempt is in May 2013. Whether converged Indian AS, Company bills, DTC, GST are applicable for May 2013?

Applicability for May 2013 examination in respect of Ind AS will be decided only after completion of November 2012 examination. As of now, Ind AS have not been notified by the Central Government.
As the Direct Taxes Code is yet to be enacted, no decision has been taken regarding its applicability for CA examinations. As and when a decision is taken in this regard, an announcement regarding the same will be hosted at the BOS knowledge portal under the students’ section of the Institute’s website The announcement will also be published in the students’ journal “The Chartered Accountant Student”. Similarly applicability of Company Bill, GST depends upon the Govt. it’s a decision about them w.r.t their notification and applicability.

To what extent ICAI considers judgments given by High courts of various states with respect to the Income Tax Act, 1961 while checking copies of Final students and what is the best source to refer for such judgments.

Questions can be answered on the basis of the Supreme Court as well as High Court judgments interpreting the tax provisions, which are relevant as per the law as amended by the Finance Act applicable for the examination.

Why do you fail a student if his aggregate marks are below 50% (like 148/150) even though he passes in individual subjects based on 40% marks?

The passing criterion has been laid down by the CA Regulations, 1988.