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The CA Intermediate exam analysis is one of the most useful tools available to candidates preparing for upcoming sessions. Published after every exam cycle based on candidate feedback and expert review, it captures how difficult each paper was, which chapters carried the most weight, how candidates fared in the new 70:30 pattern, and what a competitive score looks like for a well-prepared student. For those who have just appeared, it helps estimate chances before the official result. For those preparing for the next session, it identifies where to concentrate preparation.
This page consolidates exam analysis data across recent sessions and provides chapter-wise weightage insights for all six papers under the ICAI New Scheme.
For the complete CA Intermediate overview, visit the CA Intermediate main page.
| Topic Link | |
| CA Intermediate Overview | CA Intermediate Exam Guide |
| Exam Pattern | CA Intermediate Exam Info |
| Syllabus | CA Intermediate Syllabus |
| Cutoff and Passing Marks | CA Intermediate Cutoff |
| Previous Year Papers | CA Intermediate PYQ |
| Result | CA Intermediate Result |
| Syllabus Tracker | CA Intermediate Syllabus Tracker |
| Parameter Description | |
| Overall Difficulty | Easy / Easy-to-Moderate / Moderate / Moderate-to-Difficult / Difficult |
| Paper-wise Difficulty | Separate difficulty rating for each of the six papers |
| 70:30 Split Observations | How the subjective and MCQ sections compared in difficulty |
| Chapter-wise Weightage | Which chapters contributed the most marks in that session |
| Good Attempt Estimate | Marks a well-prepared candidate can reasonably target |
| MCQ Quality Trends | Whether MCQs were factual or genuinely case-study based |
| Expected Pass Rate Direction | Higher or lower than previous session based on difficulty |
The CA Intermediate May 2026 exam ran from 3 to 17 May 2026. Being the first session of the calendar year and attracting a high proportion of first-time candidates, the May session typically sees the highest candidate volume.
Paper 1: Advanced Accounting (3 May 2026)
Overall Difficulty: Moderate
The paper had a balanced mix of Accounting Standards-based questions and complex numericals. Consolidation of financial statements carried the highest marks in the subjective section.
| Chapter Approx. Subjective Marks Approx. MCQ Marks Difficulty | |||
| Consolidated Financial Statements | 16 to 20 | 4 to 5 | Moderate to Difficult |
| Amalgamation (AS 14) | 12 to 16 | 3 to 4 | Moderate |
| Company Accounts | 10 to 14 | 4 to 5 | Easy to Moderate |
| Accounting Standards (AS application) | 8 to 12 | 6 to 8 | Moderate |
| Branch Accounting | 8 to 10 | 3 to 4 | Easy |
| Partnership (Advanced) | 6 to 8 | 2 to 3 | Easy |
Good Attempts (Subjective): 50 to 60 marks Good Attempts (MCQ): 22 to 26 out of 30 Composite Target Score: 52 to 62 out of 100
Paper 2: Corporate and Other Laws (7 May 2026)
Overall Difficulty: Easy to Moderate
Section A (Companies Act) was manageable for candidates who had read beyond the surface level of ICAI study material. The MCQ section was genuinely scenario-based as ICAI has specified, with questions framed around board meetings, share allotment situations, and dissolution scenarios.
| Area Approx. Subjective Marks Approx. MCQ Marks Difficulty | |||
| Company Management and Administration | 14 to 18 | 4 to 6 | Easy to Moderate |
| Accounts and Audit of Companies | 12 to 15 | 4 to 5 | Moderate |
| Incorporation and Share Capital | 10 to 14 | 3 to 4 | Easy |
| Winding Up and Insolvency (IBC) | 8 to 12 | 4 to 5 | Moderate |
| FEMA and Securities Laws | 6 to 10 | 3 to 4 | Easy to Moderate |
| Compromise and Arrangements | 4 to 8 | 2 to 3 | Moderate |
Good Attempts (Subjective): 52 to 62 marks Good Attempts (MCQ): 22 to 26 out of 30 Composite Target Score: 55 to 65 out of 100
Paper 3: Taxation (14 May 2026)
Overall Difficulty: Moderate to Difficult
Paper 3 was the most challenging paper in Group I for the May 2026 session. The Income Tax section included a complex computation question involving multiple heads of income and deductions. The GST section tested Input Tax Credit conditions and Place of Supply in detail.
| Area Approx. Subjective Marks Approx. MCQ Marks Difficulty | |||
| Income Tax: Business and Profession | 14 to 18 | 4 to 5 | Moderate to Difficult |
| Income Tax: Capital Gains | 10 to 14 | 3 to 4 | Moderate |
| Income Tax: Salaries and House Property | 8 to 12 | 3 to 4 | Easy to Moderate |
| Income Tax: Deductions Chapter VI-A | 6 to 8 | 2 to 3 | Easy |
| GST: Input Tax Credit and Registration | 10 to 14 | 4 to 5 | Moderate to Difficult |
| GST: Supply and Place of Supply | 8 to 12 | 4 to 5 | Moderate |
Good Attempts (Subjective): 44 to 54 marks Good Attempts (MCQ): 20 to 24 out of 30 Composite Target Score: 48 to 58 out of 100
Paper 4: Cost and Management Accounting (5 May 2026)
Overall Difficulty: Moderate
Paper 4 was well-balanced between cost accounting methods and management decision-making. Standard Costing variance analysis and Budget preparation together accounted for approximately 30 to 35 marks in the subjective section.
| Chapter Approx. Subjective Marks Approx. MCQ Marks Difficulty | |||
| Standard Costing and Variance Analysis | 14 to 18 | 4 to 5 | Moderate |
| Marginal Costing and Decision Making | 12 to 16 | 4 to 5 | Easy to Moderate |
| Budget and Budgetary Control | 10 to 14 | 3 to 4 | Moderate |
| Activity Based Costing | 8 to 10 | 3 to 4 | Moderate |
| Material, Labour, and Overhead Cost | 6 to 10 | 4 to 5 | Easy |
| Job, Batch, and Service Costing | 4 to 8 | 2 to 3 | Easy |
Good Attempts (Subjective): 48 to 58 marks Good Attempts (MCQ): 22 to 26 out of 30 Composite Target Score: 52 to 62 out of 100
Paper 5: Auditing and Ethics (9 May 2026)
Overall Difficulty: Moderate
Paper 5 had a strong emphasis on Standards on Auditing in both subjective and MCQ sections. Ethics questions, particularly around NOCLAR and the ICAI Code of Ethics, appeared prominently in the MCQ section. Candidates who had memorized SA numbers alongside their content found this paper more manageable.
| Chapter Approx. Subjective Marks Approx. MCQ Marks Difficulty | |||
| Standards on Auditing (SA 200 to SA 706) | 20 to 28 | 6 to 8 | Moderate |
| Company Audit and Auditor's Report | 14 to 18 | 4 to 6 | Easy to Moderate |
| Risk Assessment and Internal Controls | 10 to 14 | 4 to 5 | Moderate |
| Ethics and Code of Conduct (NOCLAR) | 8 to 12 | 4 to 6 | Moderate |
| Audit of Different Entity Types | 4 to 8 | 2 to 3 | Easy to Moderate |
| Special Assignments (Forensic, Due Diligence) | 4 to 6 | 2 to 3 | Easy |
Good Attempts (Subjective): 48 to 58 marks Good Attempts (MCQ): 22 to 26 out of 30 Composite Target Score: 52 to 62 out of 100
Paper 6: Financial Management and Strategic Management (17 May 2026)
Overall Difficulty: Easy to Moderate
Paper 6 was the most straightforward paper of the May 2026 session. Capital Budgeting and Cost of Capital questions in Financial Management were standard in difficulty. Strategic Management MCQs were conceptual and application-based.
| Chapter Approx. Subjective Marks Approx. MCQ Marks Difficulty | |||
| Capital Budgeting (NPV, IRR, PI) | 14 to 18 | 4 to 5 | Easy to Moderate |
| Cost of Capital and Capital Structure | 10 to 14 | 3 to 4 | Easy to Moderate |
| Working Capital Management | 10 to 12 | 3 to 4 | Easy |
| Dividend Policies | 6 to 10 | 2 to 3 | Easy |
| Strategic Analysis (SWOT, Porter's, BCG) | 8 to 12 | 6 to 8 | Easy to Moderate |
| Strategic Choice and Implementation | 4 to 8 | 4 to 6 | Easy |
Good Attempts (Subjective): 52 to 62 marks Good Attempts (MCQ): 24 to 28 out of 30 Composite Target Score: 58 to 68 out of 100
The January 2026 session ran from 6 to 23 January 2026. The result was declared in March 2026.
| Paper Difficulty Good Attempt Range | ||
| Paper 1: Advanced Accounting | Moderate to Difficult | 48 to 58 |
| Paper 2: Corporate and Other Laws | Moderate | 52 to 62 |
| Paper 3: Taxation | Difficult | 42 to 52 |
| Paper 4: Cost and Management Accounting | Moderate | 50 to 58 |
| Paper 5: Auditing and Ethics | Moderate | 50 to 60 |
| Paper 6: Financial Management | Easy to Moderate | 56 to 66 |
The January 2026 session saw Paper 3 rated as the most difficult, particularly due to complex GST place of supply questions and a multi-step Income Tax computation. This contributed to a lower Group I pass rate compared to the May 2025 session.
The September 2025 session recorded some of the lowest pass percentages across both groups in recent years, with Group I passing rates below 18 percent in most estimates.
| Paper Difficulty Key Observation | ||
| Paper 1: Advanced Accounting | Difficult | Consolidation question had unusual minority interest treatment |
| Paper 2: Corporate and Other Laws | Moderate to Difficult | IBC and FEMA questions were more detailed than in previous sessions |
| Paper 3: Taxation | Very Difficult | Complex TDS provisions and GST annual return questions |
| Paper 4: Cost and Management Accounting | Moderate | Standard; variance analysis was the anchor question |
| Paper 5: Auditing and Ethics | Moderate | SAs were standard; Ethics MCQs were more nuanced |
| Paper 6: Financial Management | Moderate | Slightly more complex capital structure questions |
Based on analysis across multiple sessions from 2024 to 2026, the following chapters have consistently carried the highest marks within each paper.
| Chapter Average Marks Range (Subjective) | |
| Consolidated Financial Statements | 15 to 22 |
| Amalgamation under AS 14 | 12 to 18 |
| Company Accounts (shares, debentures, buyback) | 10 to 15 |
| Accounting Standards (AS 2, AS 10, AS 22, AS 26) | 8 to 14 |
| Branch Accounting | 6 to 10 |
| Accounts from Incomplete Records | 4 to 8 |
| Area Average Marks Range | |
| Management and Administration (board meetings, resolutions) | 12 to 18 |
| Accounts and Audit of Companies | 10 to 15 |
| Share Capital and Debentures | 8 to 14 |
| Winding Up | 6 to 10 |
| IBC and FEMA (Allied Laws) | 8 to 12 |
| Area Average Marks Range | |
| Income Tax: Business and Profession | 12 to 18 |
| GST: Input Tax Credit | 8 to 14 |
| Income Tax: Capital Gains | 8 to 14 |
| GST: Supply and Place of Supply | 8 to 12 |
| Income Tax: Deductions (Chapter VI-A) | 6 to 10 |
| Chapter Average Marks Range | |
| Standard Costing and Variance Analysis | 14 to 20 |
| Marginal Costing and Decision Making | 10 to 16 |
| Budget and Budgetary Control | 10 to 14 |
| Activity Based Costing | 6 to 10 |
| Area Average Marks Range | |
| Standards on Auditing (multiple SAs) | 20 to 30 |
| Company Audit and Auditor's Report | 12 to 18 |
| Risk Assessment and Internal Controls | 8 to 14 |
| Ethics (ICAI Code and NOCLAR) | 8 to 14 |
| Chapter Average Marks Range | |
| Capital Budgeting (NPV, IRR, MIRR) | 12 to 18 |
| Cost of Capital (WACC, CAPM) | 10 to 15 |
| Working Capital Management | 8 to 14 |
| Capital Structure and Leverage | 6 to 10 |
Based on analysis from May 2024 onwards, several observations have emerged about how the MCQ section has worked in practice under the new scheme:
MCQs are genuinely scenario-based: Unlike simple definitional MCQs, the 30-mark section requires reading a situation and applying the relevant legal provision, accounting standard, or financial concept. This has been a differentiating factor between candidates who practised case-study MCQs specifically and those who did not.
Paper 2 MCQs are the most scenario-heavy: Corporate law MCQs have featured detailed situations requiring identification of the applicable Companies Act section. Candidates who approach these with only theoretical knowledge consistently underperform relative to those who can link scenarios to specific sections.
Paper 6 MCQs are the most accessible: Strategic Management MCQs are often framed around business contexts with clear correct options for candidates who understand frameworks like Porter's Five Forces and SWOT analysis.
Timing impact: Most candidates report that three hours is sufficient for all papers, but candidates who spend disproportionate time on difficult subjective questions sometimes rush through the MCQ section. Building MCQ speed through practice is as important as subjective preparation.
Chapter weightage data across sessions is the most reliable input for study time allocation. Chapters that consistently carry 15 to 22 marks in a paper deserve at least twice the preparation time of chapters that carry only 4 to 8 marks.
| Paper Conservative Target Competitive Target | ||
| Paper 1: Advanced Accounting | 45 to 55 | 55 to 68 |
| Paper 2: Corporate and Other Laws | 50 to 60 | 60 to 72 |
| Paper 3: Taxation | 42 to 52 | 52 to 62 |
| Paper 4: Cost and Management Accounting | 48 to 58 | 58 to 70 |
| Paper 5: Auditing and Ethics | 48 to 58 | 58 to 70 |
| Paper 6: Financial Management | 54 to 64 | 64 to 75 |
Conservative targets ensure clearing the 40-mark individual threshold comfortably with an aggregate above 150 per group. Competitive targets push toward distinction territory.
Treat the 30-mark MCQ section as a separate preparation category. Use ICAI Mock Test Papers and Revision Test Papers, which now include MCQ sections formatted as scenario-based questions. Previous year papers from the CA Intermediate PYQ page are the most authentic source.
Exam analysis reveals which chapters are high-weightage; the CA Intermediate Syllabus Tracker ensures those chapters are covered first and revisited before the exam.
Which is the toughest paper in CA Intermediate consistently? Paper 3 (Taxation) has the highest difficulty rating across the most sessions, primarily due to annual amendments and the dual coverage of Income Tax and GST. Paper 1 (Advanced Accounting) is the second most consistently difficult, particularly when Consolidation and Amalgamation questions are complex. For Group II, Paper 4 (Cost Accounting) has the most variable difficulty.
Has the MCQ section increased overall scores or decreased them? Based on early new-scheme sessions, the MCQ section has had a mixed impact. Candidates who specifically practised case-study MCQs gained marks they would not have had in the old fully-subjective format. Candidates who did not adapt their preparation lost the 30 marks because they wrote subjective-style reasoning in the MCQ answer bubbles.
Is Paper 3 Taxation always the most difficult? Not always. The September 2025 session rated Paper 3 as very difficult, but the May 2025 session was more moderate. The difficulty depends heavily on how complex the selected Income Tax computation scenario is and whether the GST questions involve straightforward classification or complex transitional or place-of-supply scenarios.
Should I attempt both groups together or separately based on exam analysis? Exam analysis alone does not determine whether to attempt both groups together. That decision depends on preparation level. However, the analysis confirms that Paper 6 (Financial Management) is consistently the most manageable paper in Group II, and candidates who are attempting Group II for the first time with solid Financial Management preparation have a reasonable chance of clearing it even if Paper 5 is slightly weaker.
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