Are you eager to pursue a career in economics, finance & law, and accounts? Students planning such a career need to sit for the ICAI CA foundation exam. It isn’t easy and is one of the most challenging exams to pass among professional courses. A chartered accountant has higher professional possibilities and has a prestigious social standing. The career path might lead to more senior organizational and management positions. Despite the difficult nature of the exam, there are far too many reasons why you would want to try your luck. So let’s go through every aspect of the CA foundation exam.
ICAI CA Foundation Exam replaced the CA-CPT Exam
The ICAI CA foundation exam replaced the CA-CPT Exam, and the Institute of Chartered Accountants of India conducts the Exam. It is an entry-level exam for students who want to make a career as a CA and is held twice a year. The foundation exam is only the first stage of becoming a CA. You must also clear the intermediate and final steps to fulfill your dream of becoming a chartered accountant. Candidates who are planning to appear for the Exam will have to register with the ICAI online. A student should also know about the date eligibility application fee.
Understand the Eligibility Criterion for the CA Foundation Exam
Let us start with the eligibility criterion for the CA foundation exam, and there are a few steps a student has to go through.
- You must complete your 10+2 exams and then execute the registration formalities with the Board of Studies (BOS). Students planning to appear for the May session exam must register by December 31st. If you plan to appear for the December session, you have until June 30th to complete the registration formalities.
- A student now has to undergo a four-month study period to prepare for the Exam.
- You must apply for the CA foundation as per the schedule.
A student who is eager to sit for the ICAI CA foundation exam should register online, and a successful registration attempt is valid for three years. Therefore, a student can have six attempts to pass the CA course. You can register right throughout the year.
Understand the CA foundation registration fee you need to pay:
Registering for the CA foundation exam requires a fee, and you must know the details. Both Indian and foreign nationals are eligible to register and appear for the Exam, and here is the fee structure.
- For Indian nationals, the basic registration fee is Rs 9,000, but there are add-ons. You must pay Rs 200 more for the foundation prospectus. Alongside this are optional expenses, and you can subscribe to the student’s journal for a year. The quote for this subscription is Rs 200. A subscription to the member’s journal is Rs 400, which is also optional. If you subscribe to both these journals, then you will have to incur Rs 9800 in total.
- For foreign nationals, the basic registration fee is $USD 700. The student must pay $USD 20 for the foundation prospectus. For an optional yearly subscription to the student’s journal, the quote is $USD 20. An annual subscription for the member’s journal is $USD 40, and this is also optional
The CA Foundation Application Fee:
Beyond the date eligibility application fee is another area that, as a student, you need to be aware of. The application window opens for a short duration, and that is when a student must pay the fees. The student’s fee will depend on the examination center they choose. Here are the details for readers in brief.
- The application fee for taking the Exam at any Indian center is Rs 1,500/-.
- The application fee for taking the Exam in Kathmandu is Rs 2,200/-.
- The Exam is also held at overseas centers such as Abu Dhabi, Doha, Muscat, and Dubai. If you select any of these centers as your exam venue, you must pay an exam fee of $USD 325.
A Guide on the Process of Filling Up the Exam Registration Form
Here are a few steps to complete the CA exam registration form. It should be easy for an applicant.
- You must first visit the official website.
- A student should now enter the login details.
- Complete the one-time registration by filling up the foundation course registration number. You must mention your date of birth & mobile number and email ID.
- Now, complete the form and attach the signed written statement. After verifying the information on the review page, you can fill out the CA foundation examination application.
- Pay the examination registration fee.
- You can keep a PDF of the receipt for future use.
Insights Of the CA Foundation 2023 Important Dates:
Similar to any other year, the Exam will be held twice this year. Here are some critical dates examinees need to keep in mind.
- The application window opens for the exams in May 2023 and November 2023, respectively.
- The last date to apply without paying a late fee for the June exam date was January 1st, 2023. It is to be noted that the last date of applying after paying the late fee for the June exam has also expired. Students planning to take the Exam in December have till July 1st to apply without paying any late fee.
- The board offers an application correction window time, but unfortunately, the date has expired for June examinees. You must do the corrections by the 1st week of March every year, and this time, the date was March 4th to 10th.
- The foundation exam is scheduled to be held in June and December 2023. The exam dates for June are the 24th, 26th &28th, and 30th.
Here is a comprehensive guide for a student who intends to register and appear for the ICAI CA foundation exam. You learn about the registration process, fees & eligibility, and the complete registration process. You are perhaps concentrating hard on your CA studies, but do also keep a lookout for the important dates to complete registration formalities and pay the fee timely.