How to Become CA (Chartered Accountant) in India- A Comprehensive Guide

A chartered accountant is a qualified professional who has a specialization in accounting, auditing, and taxation. They are in charge of creating financial statements, making sure that financial records are exact, and giving both clients and businesses financial advice. To earn their professional certification, chartered accountants must go through rigorous training and exams. They play a crucial role in various areas of financial management and decision-making.

In this blog, we will learn how to become a CA in India, CA courses, CA articleship training, CA salary in India, and more, so stay tuned till the end. 

Procedure to Become CA in India

The CA exam is often regarded as one of the toughest exams in the world. Becoming a Chartered Accountant (CA) in India is a highly esteemed journey. The Institute of Chartered Accountants of India (ICAI), which governs the CA course, requires candidates to go through rigorous training and exams designed to evaluate their knowledge, analytical abilities, and ability to apply accounting and financial concepts in real-world situations.

Let’s discuss the steps how to become a CA in India:

1. CA Foundation

The first step to becoming a CA in India is to enroll in the CA Foundation Course

  •  Must have completed 10+2 education from a recognized school or institution in order to do CA Foundation. After meeting this educational requirement, you can register for the Institute of Chartered Accountants of India’s (ICAI) CA Foundation course.
  • Visit the official website of ICAI and register for the CA Foundation course.
  • Submit the required details and pay the fees
  • Once you’ve registered, you’ll receive study materials and access to online resources to help you prepare for the exam.

The CA Foundation is held twice a year, in June and December. For the CA Foundation, a minimum of 40% in each of the four papers and an overall score of 50% are required for candidates to pass the CA Foundation exam in 2024. After passing the Foundation exam, you are able to proceed on to the Intermediate and Final courses in the CA program, which are the next steps in the procedure of becoming a chartered accountant.

2. CA Intermediate and Articleship

After clearing the CA Foundation exam, the second step to becoming CA in India is to register for the CA intermediate course.

  • Visit official website of ICAI and register for CA intermediate course.
  • CA Intermediate exam, covers advanced subjects in financial management, taxation, auditing, and accounting. In addition to the study materials provided by ICAI, students have a choice to further improve their preparation by applying to extra coaching classes.
  • The intermediate exam is divided into two groups, each containing three papers. Candidates have the option to appear for both groups simultaneously or separately. Each paper is assigned specific marks, and candidates need to score a minimum of 40% marks and an overall aggregate of 50%. Multiple-choice questions (MCQs) in the CA Intermediate Exam Pattern do not carry any negative marks.

After passing one or both groups of CA inter, candidates become eligible for CA articleship training.

  • The articleship period lasts two years with a Chartered Accountant’s guidance.
  • Any practicing chartered accountant or chartered accounting firm registered with ICAI is a good place to pursue an articleship. It’s wise to pick a firm that provides plenty of exposure to taxation, auditing, accounting, and other subjects that are essential to the CA profession. 

3. CA Final

  • After successfully completing both groups of CA Inter, completing the prescribed period of the articleship, and completing the criteria for information technology training (ITT) and general management and communication skills (GMCS) as stated by ICAI,.
  • The CA Final exam is divided into two groups, and candidates need to complete a study period of at least 6 months for each group before they appear for the CA Final exam.
  • To pass CA finals, candidates must score 40% in each subject and a minimum aggregate of 50% in each group.
  • Registration for the CA final is valid for 10 years.  After 10 years, candidates can revalidate for another 10 years with a minimum charge of Rs 500.  There is no limit to the number of attempts taken to clear the CA final exam.

CA Salary in India

  • In India, the salary of chartered accountants is based on firm size, location, and experience.
  • Fresher CAs earn around ₹6–10 lakhs per annum; experienced CAs earn around 10–20 lakhs per annum.
  •  Highly experienced senior CAs can earn between ₹20 and ₹50 lakhs a year.
  • Compared to smaller towns, big cities like Bangalore, Delhi, and Mumbai provide higher salaries.

In order to have more control over their work, CAs develop their own brands and possibly make more money than they would in a traditional job. Many CAs decide to start their own practices.

Starting a business requires careful planning, dedication, and capital. It can be a satisfying and effective journey for CAs who want to pursue entrepreneurship.

Frequently Asked Questions (FAQs)

1. What are the fees for CA foundation registration?

Fees for the foundation course are Rs 9000. This fee includes the prospectus for the CA course and study material for the CA Foundation course.

2. What is the fee for CA Intermediate registration?

The fee for registration of the CA Intermediate course for both groups is Rs 18,000.

3. What is the fee for CA Final registration?

The fee for registration of the CA final for both groups is Rs 22000.

4. Becoming a chartered accountant is easy or difficult?

CA is generally considered to be difficult due to the substantial coursework, rigorous examinations, and practical experience.

5. What is the age limit to become a CA?

There is no specific age limit to becoming a CA. Applicants may apply for CA exams at any age as long as they fulfil the requirements mentioned by the Institute of Chartered Accountants of India (ICAI) regarding education and other eligibility.

6. What is the minimum package for CA?

A CA salary can differ significantly based on a number of factors, including industry, area, experience, and particular job function. Nonetheless, fresher chartered accountants in India should generally budget between ₹6 and 10 lakhs per annum.

Related Blogs:

CA Foundation Updated New Syllabus 2024 – ICAI

ICAI CA Inter-New Syllabus 2024

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