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Education and Concessional Loan to CA

Education and Concessional Loan to CA

Education and Concessional Loan to CA:-

Yes, you can get an education loan for coaching purposes. However, this is not always available directly. Several financial institutions offer education loans but only a few offer loans for coaching. There are some lenders offering loans for courses like JEE, GMAT, CAT, GATE, CA, PMT and UPSC among others. Loan amounts in these cases are usually lower, say up to Rs. 2 lakhs or so.

However, the best way out is to take a Personal Loan for Higher Educational purposes. These loans are offered by innumerable private and public lenders. These cover all your educational institutions and have tenures ranging between 3-5 years in most cases. The application, approval and disbursement procedure is also fast in case of some providers. You should compare and contrast lenders thoroughly before taking a final decision.

Education and Concessional Loan to CA

Some of the public sector bank used to give the loans to the student who are willing to do the coaching in better way. One thing you should have scored more in your school that bank should realize you are the right candidate secondly you should find the best coaching institute for it so that bank can easily give you the loan All The Best cheers!!!!!

With a view to facilitate the students pursuing the Chartered Accountancy Course, the Institute of Chartered Accountants of India has made tie-up with the following Banks under the “Join CA Educational Loan Scheme” to provide the Education loan to its aspiring students to meet out the Course fees etc.

BankWebsite
IDBI Bankwww.idbi.com
Bank of Maharashtrawww.bankofmaharashtra.in
Corporation Bankwww.corpbank.co.in
Oriental Bank of Commercewww.obc.india.co.in

Education and Concessional Loan to CA

The chartered Accountants Act, 1949, to consider the loan applications of the students entering into its chartered accountancy course. Thus, loans to student entering into the chartered accountancy course conducted by ICAI only may be considered under Student Loan Scheme. A maximum loan of Rs, 2 lacs may be sanctioned based on the following expenses:

sl no                             Particulars          Amount (in rs)
       1     Course Fee   42,450/-
       2     Provision of Laptop    40,000/-
       3      Expenditure on Live Virtual Classes    50,000/-
       4     Six weeks residential course (optional)     40,000/-

Education and Concessional Loan to CA

The loan can be distributed in the following manner:

1. On registration for CPT- 10% of the sanctioned amount i.e. maximum 20,000/-

2. On registration for IPCC- 30% of the sanctioned amount i.e. maximum 60,000/-

3. On registration for final- 60% of the sanctioned amount i.e. maximum Rs 1,20,000/-

Education and Concessional Loan to CA

ELIGIBLE COURSES – STUDIES IN INDIA

 Graduation courses: B.A., B.Com., B.Sc. etc.

 Post graduation courses: Masters and Ph.D.

 Professional courses: Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Management, Computer, etc.

 Computer Certificate courses of reputed institutes accredited to Department of Electronics or Institutes affiliated to a university  Courses like ICWA, CA, CFA, etc.

 Courses conducted by IIM, IIT, IISc, XLRI, NEFT, etc.

 Other courses leading to diploma, degree etc. conducted by colleges, universities approved by UGC/Government/AICTE/AIBMS/ICMR etc.

 Courses offered by National Institutes and other reputed private institutions.

 Regular Degree/Diploma courses like Aeronautical, Shipping, Pilot training etc., approved by Director General of Civil Aviation/Shipping. (if the course is pursued abroad, the Institute should be recognized by the competent local aviation/shipping authority)

 Courses approved by LHO from their area of operation depending on future prospects/recognition of institute

Education and Concessional Loan to CA

STUDENT ELIGIBILITY

 Should be an Indian National.

 Secured admission to a higher education course in recognized institutions in India through Entrance Test/ Merit Based Selection process after completion of HSC (10 plus 2 or equivalent)

 Secured admission to foreign university/institutions

 In cases, where there is no Entrance Test/ Merit based selection procedure, securing admission to a higher education course in a recognized institute may be considered.

 Students who have appeared in any Entrance Test, secured passing marks but could not get admission due to lower ranking and who opt to pursue the course under Management Quota in the same Institution or another Institution for reasons of convenience (proximity) or choice of course, will be eligible for sanction of Education Loans. For courses under Management Quota seats considered under the scheme, fees as approved by the State Government/ Government approved regulatory body for payment seats will be taken

Education and Concessional Loan to CA

ELIGIBLE EXPENSES

 Fee payable to college/school/hostel.

 Examination/Library/Laboratory fee.

 Travel expenses/passage money for studies abroad.

 Purchase of books/equipments/instruments/uniforms/ computer at reasonable cost, if required for course completion and any other expense required to complete the course– like study tours, project work, thesis, etc. can be considered for loan subject to the condition that these should be capped at 20% of the total tuition fees payable for completion of the course.

 Caution deposit /building fund/refundable deposit supported by Institution bills/receipts the amount considered for loan should not exceed 10% of the tuition fees for the entire course.

 Cost of a two-wheeler upto Rs. 50,000 can be included in the expenses considered eligible for finance where the loan amount is secured by a suitable third party guarantee and/or tangible collateral security. Twowheeler can be necessary in some cases where hostel and college are far apart.

 Premium of ‘RiNn Rakhsha’ (IRDA License No: UIN: 111N078V01): Finance for ‘RiNn Rakhsha’ will improve insurance-coverage of the loan.

Education and Concessional Loan to CA

CA Course Details Below:

Chartered accountancy is the full form of “CA”. See the Chartered Accountant course details like ca course structure and eligibility and more below.

CA Course Eligibility

After passing the 10th class or any course equal to that which is recognized student can apply for Common Proficiency Course (cpc). After 10+2 qualifying student needs to qualify for CPT exam. After CPT IPCC, Article ship/ Training under a Practicing C.A will be for 3 years and CA Final is there. This is like four stage procedure.

Details About CA Course Eligibility Information

  • For CPT 10+2 qualification is needed.
  • Integrated Professional Competence Examination candidate has to qualify in cpt.
  • Graduate/post graduates in commerce with 55%, other graduates or post graduates with 60% can also apply.

Integrated Professional Competence Course Examination Eligibility

Students who are qualified in cpt, graduate/post graduates in commerce with 55%, other graduates or post graduates with 60% can apply. The candidate has to register 9 months before the exam. After that student has to complete 100 hours of Information Technology Training.

Education and Concessional Loan to CA

CA Course Requirements

Below is the procedure to become a chartered accountant. They are

  1. Common Proficiency Test
  2. Integrated Professional Competence Course
  3. Three years Article ship / Training under a Practicing Chartered Accountant
  4. CA Final

Below is the detailed and simply understandable explanation and procedure to become a ca.

Education and Concessional Loan to CA

  • CPT Registration Online:

After passing 10th everyone is searching for ca course information. Here Registration for cpt course is important. 60 days before the first day of the month in which exam takes place. This time is important for common proficiency test online registration.

  • Appear CPT Exam

A student can appear for chartered accountant course after 12th by registering and appearing for CPT. Student needs to wait at least 60 days after cpt registration. Students are eligible to appear the June/December exams if they registered before 1st April or 1st october.

  • IPCC Registration

Candidate can register for IPCC after passing 10+2 and CPT exam. They need to register before 9months to the first day of the month exam is held.

  • ITT and Orientation

Complete 100 hours of ITT. Orientation and Information Technology training is to be completed before article ship. These ITT and Orientation can be completed at any time before article ship.

  • Appear and Pass IPCC

You can appear both groups of IPCE or can appear Group 1 only and later appear group 2.

  • Chartered Accountant Article ship Registration

After passing IPCE Group 1 or both groups student can register for article ship with practicing chartered accountant for a period of 3 years.

  • Register for CA Final Course

Attend Chartered Accountancy Final examination during last six months of article ship and pass CA final exams of both groups.

  • Article ship and GMCS completion

Complete 3 years article ship and GMCS (15 days).

  • Enroll as a Member

After successfully enrolling you are the professional chartered accountant.

Education and Concessional Loan to CA

CA Course Syllabus

CPT Subjects and Qualifying Details: (old)

The common proficiency test has four papers. The exam will be objective type and conducted twice a year in June and December. You can see the ca CPT results on this site when they are released. The Four subjects and exam of CPT details are there in the below table.

The examination will be conducted for 200 marks in objective manner. To qualify in the exam candidate have to secure at least 100 marks i.e 50 % marks in the exam. For every wrong answer 0.25 negative marks will be there and 0 marks for un answered questions.

Section 1 10.30 A.m. To 12.30 P.M
SectionSubjectsMarks
Section AFundamentals of Accounting60
Section 2 2.00 P.m. To 4.00 P.M
Section BMercantile Laws40
Section CGeneral Economics50
Section DQuantitative Aptitude50

CA Foundation Course Details according to CA New syllabus 2016

Form 2016 cpt course will be called as CA Foundation course. It will have six subjects i.e two subjects are added to previous course. The two new subjects are Business communication and General English. Six subjects of CA foundation course Details.

PaperSubjectMarks
Paper 1Principles & Practices of Accounting100
Paper 2Business Mathematics & Logical Reasoning and Statistics100
Paper 3Mercantile Law & General English100
Paper 4Business Economics and Business & Commercial Knowledge100

CA Inter Syllabus 2016

There are 2 groups in ipcc and eight subjects are there passing group 1 is necessary for the commencement of the article ship.

IPCC Syllabus:

GroupPaperSubjectMarks
Group 1Paper 1Accounting100
Paper 2Company Laws & Other Laws100
Paper 3Cost Accounting100
Paper 4Direct Tax Laws & Indirect Tax Laws100
Group 2Paper 5Advanced Accounting100
Paper 6Auditing & Assurance100
Paper 7Financial Management & Business Economic Environment100
Paper 8Information Technology & Strategic Management100

Chartered Accountant Final Course Syllabus 2016:

GroupPaperSubjectMarks
Group 1Paper-1Financial Reporting100
Paper-2Strategic Financial Management100
Paper-3Advanced auditing and professional ethics100
Paper-4Corporate Laws and Other Economic Laws100
Group 2Paper-5Advanced Management Accounting.100
Paper-6Financial Services & Capital Markets and Information systems control & Audit100
Paper-7Advanced Tax Laws & International Taxation100
Paper-8Advanced Indirect Tax Laws100

Chartered Accountant Qualification

Below section explains about ca qualification requirements to become a member and called as a professional chartered accountant.

Foundation Qualification Details

See latest post about ca foundation course for more details about foundation qualifying details.

IPCC Qualifying Details

To qualify 40% in each subject is required and aggregate of 55% is required. You can see ca ipcc results in this site when they are released.

Final Qualifying Details

To qualify 40% in each subject is required and aggregate of 50% is required. After passing Chartered Accountancy Final course enroll as a member and candidate is designated as “Chartered Accountant”.

Education and Concessional Loan to CA

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Education and Concessional Loan to CA

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