Cost and Works Accountants Act, 1959
32. Exemption from the subjects for appearing in Intermediate Examination
(1) In the case of candidates registered as students on or after lst July, 1994, the Council shall decide the individual subjects from which exemption may be granted to students who have passed such examination of any University or on reciprocal basis of such professional Institutes/Bodies in India or abroad, as may be recognized by the Council in this behalf.
(2) The Council shall also decide the individual subjects /stages of the Intermediate Examination from which candidate who is admitted as a fresh Registered Student under regulation 25A, shall be exempted on the basis of exemption from individual subjects/ stages previously secured by him under his former registration.
(3) As a transitional measure the following exemptions will be allowed:
Any candidate who is registered prior to lst July, 1994 and yet to pass the Intermediate Examination but who has passed or obtained exemption from any of the following papers of the Intermediate Examination under the old syllabus shall be exempted from the corresponding papers of the Intermediate Examination under the revised syllabus as indicated below:
Papers of Intermediate Examination under the Old Syllabus
Corresponding equivalent papers of Intermediate Examination under the Revised Syllabus
|Group||Paper No.||Name of Paper||Stage||Paper No.||Name of Paper|
|I||2||Business Mathematics and Statistics||II||3||Quantitative Method|
|I||3||Business and Economic Law||I||3||Corporate Laws and Secretarial Practice|
|I||4||Book- Keeping and Accountancy||I||1||Financial Accounting|
|II||1||Cost Accountancy- Prime Cost and Overheads||I||2||Cost Accounting|
|II||2||Cost and Management Accountancy Methods and Techniques||II||5||Cost and Management Accounting|
(4) A candidate who has passed in the Intermediate Examination under the old Syllabus shall not be required to pass the Intermediate Examination under the revised syllabus.
A candidate who has obtained exemption or obtained the benefit of carry forward of marks in any of the above papers of Intermediate Examination under the old syllabus shall be entitled to exemption only in the corresponding equivalent papers of the Intermediate Examination under the revised syllabus. However, the benefit of carry forward of marks by "virtue of the result of any examination under the old syllabus shall not be available in any paper of the Intermediate Examination under the revised syllabus.]