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The CA Intermediate syllabus under the ICAI New Scheme covers six papers organized into two groups. The syllabus is substantially more voluminous and conceptually deeper than the CA Foundation, demanding both theoretical command and practical problem-solving ability across accounting, law, taxation, cost management, auditing, and financial management. This page provides the complete chapter-wise syllabus for all six papers along with preparation guidance.
For the complete CA Intermediate overview, visit the CA Intermediate main page.
| Topic Link | |
| CA Intermediate Overview | CA Intermediate Exam Guide |
| Eligibility Criteria | CA Intermediate Eligibility Criteria |
| Exam Pattern | CA Intermediate Exam Info |
| Previous Year Papers | CA Intermediate PYQ |
| Syllabus Tracker | CA Intermediate Syllabus Tracker |
| Exam Analysis | CA Intermediate Exam Analysis |
| Paper Group Name Marks Pattern | ||||
| Paper 1 | Group I | Advanced Accounting | 100 | 70 Subjective + 30 MCQ |
| Paper 2 | Group I | Corporate and Other Laws | 100 | 70 Subjective + 30 MCQ |
| Paper 3 | Group I | Taxation | 100 | 70 Subjective + 30 MCQ |
| Paper 4 | Group II | Cost and Management Accounting | 100 | 70 Subjective + 30 MCQ |
| Paper 5 | Group II | Auditing and Ethics | 100 | 70 Subjective + 30 MCQ |
| Paper 6 | Group II | Financial Management and Strategic Management | 100 | 70 Subjective + 30 MCQ |
Track chapter completion across all six papers using the CA Intermediate Syllabus Tracker.
Paper 1 builds extensively on the accounting foundation built at the CA Foundation level. It covers complex accounting standards, group financial statements, and specialized accounting situations.
| Chapter Topic | |
| 1 | Overview of Accounting Standards: Applicability of Ind AS and AS; overview of framework for preparation of financial statements |
| 2 | AS 1 to AS 29 (Selected Standards): Disclosure of Accounting Policies, Valuation of Inventories, Cash Flow Statements, Contingencies, Revenue Recognition, Fixed Assets, Borrowing Costs, Segment Reporting, Related Party Disclosures, Earnings Per Share, Intangible Assets, etc. |
| 3 | Company Accounts: Issue and forfeiture of shares and debentures; bonus shares; rights issue; buy-back; redemption of preference shares and debentures; underwriting of shares |
| 4 | Reorganization and Liquidation of Companies: Amalgamation under AS 14; internal reconstruction; external reconstruction; liquidation of companies |
| 5 | Consolidated Financial Statements: Holding company accounts; preparation of consolidated balance sheet; minority interest; goodwill on consolidation |
| 6 | Branch Accounting: Dependent and independent branches; stock and debtors system; foreign branches |
| 7 | Accounts from Incomplete Records (Single Entry): Preparation of final accounts; missing figure |
| 8 | Accounting for Special Transactions: Investment accounts; insurance claims; hire purchase and instalment sales; self-balancing ledgers |
| 9 | Partnership Accounts (Advanced): Conversion of partnership into limited company; sale to a company; admission, retirement, dissolution |
Amalgamation under AS 14 (Chapter 4) and Consolidated Financial Statements (Chapter 5) are the highest-weightage and most complex topics. These require sustained practice with complete problems over multiple sessions. Students who allocate insufficient time to these chapters consistently struggle with Paper 1.
Accounting Standards (Chapter 2) must be studied systematically. Do not attempt to memorize all standards at once; study one standard per day alongside its related practical questions.
Paper 2 covers the Companies Act 2013 extensively, along with allied legislations that a practising Chartered Accountant encounters regularly.
Module 1: Companies Act, 2013 (Approximately 70 marks)
| Chapter Topic | |
| 1 | Preliminary: Definitions, types of companies, conversion |
| 2 | Incorporation of Company and Matters Incidental Thereto: MOA, AOA, prospectus |
| 3 | Prospectus and Allotment of Securities: Types of prospectus, DRHP, red herring prospectus |
| 4 | Share Capital and Debentures: Types of share capital, transfer and transmission, buyback, debentures |
| 5 | Acceptance of Deposits |
| 6 | Registration of Charges |
| 7 | Management and Administration: Registers, returns, meetings, resolutions |
| 8 | Declaration and Payment of Dividend |
| 9 | Accounts of Companies: Books of accounts, financial statements, audit, XBRL |
| 10 | Audit and Auditors: Appointment, disqualification, powers, duties |
| 11 | Companies (Auditor's Report) Order, 2020 |
| 12 | Appointment and Qualifications of Directors |
| 13 | Meetings of Board and its Powers |
| 14 | Inspection, Inquiry and Investigation |
| 15 | Compromise, Arrangements and Amalgamations |
| 16 | Prevention of Oppression and Mismanagement |
| 17 | Winding Up |
| 18 | Producer Companies |
Module 2: Allied Laws (Approximately 30 marks)
| Chapter Topic | |
| 1 | The General Clauses Act, 1897 |
| 2 | Interpretation of Statutes |
| 3 | Foreign Exchange Management Act, 1999 (FEMA): Basic provisions |
| 4 | The Insolvency and Bankruptcy Code, 2016 (IBC): Overview and key provisions |
| 5 | Securities Laws: SEBI Act 1992, Securities Contracts (Regulation) Act 1956 |
The Companies Act 2013 is the core of Paper 2. Chapters on Accounts of Companies, Audit and Auditors, Appointment of Directors, and Winding Up consistently appear in every session. These must be studied from the bare act alongside the ICAI study material.
The MCQ section in Paper 2 is largely scenario-based. ICAI frames situations (for example: "A company wants to buy back its shares. Which conditions must it satisfy?") and asks candidates to identify the applicable provision. Developing the ability to connect a scenario to the relevant section is crucial.
Paper 3 is divided between Income Tax and GST. It is one of the most dynamic papers in the CA Intermediate because tax laws are amended annually. Students must always prepare using the assessment year and GST circulars applicable to the specific exam session.
| Chapter Topic | |
| 1 | Basic Concepts: Previous year, assessment year, total income, rates of tax |
| 2 | Residential Status and Scope of Total Income |
| 3 | Income from Salaries: Allowances, perquisites, deductions |
| 4 | Income from House Property: Let out, self-occupied; municipal taxes; standard deduction |
| 5 | Profits and Gains of Business or Profession: Computation, disallowances, depreciation |
| 6 | Capital Gains: Short-term and long-term; cost of acquisition; exemptions under Section 54 series |
| 7 | Income from Other Sources |
| 8 | Clubbing of Income |
| 9 | Set-off and Carry Forward of Losses |
| 10 | Deductions from Gross Total Income: Chapter VI-A deductions (80C, 80D, 80G, 80TTA, etc.) |
| 11 | Assessment of Different Persons: Individual, HUF, Firm, Company, AOP/BOI |
| 12 | Returns and Assessment Procedures: Types of returns, assessment types |
| 13 | Advance Tax and Tax Deducted at Source (TDS) |
| 14 | Provisions Concerning Tax Evasion: Search and seizure, penalties, prosecution |
| Chapter Topic | |
| 1 | GST in India: An Introduction: Constitutional framework, dual GST |
| 2 | Supply under GST: Concept of supply, composite and mixed supply, schedule I to III |
| 3 | Charge of GST: Regular charge, reverse charge mechanism |
| 4 | Exemptions from GST |
| 5 | Place of Supply of Goods and Services |
| 6 | Time and Value of Supply |
| 7 | Input Tax Credit: Conditions, blocked credits, proportionate credit |
| 8 | Registration under GST: Threshold, compulsory, voluntary |
| 9 | Tax Invoice, Credit and Debit Notes |
| 10 | Returns under GST: GSTR-1, GSTR-3B, annual return |
| 11 | Payment of Tax |
| 12 | Customs Duty: Basic concepts, types of duties |
Taxation is amended every year. The amendments applicable to each session are announced by ICAI through an official circular. Prepare using ICAI study material specific to the current assessment year and not general books from previous years.
Income from Salaries, Business and Profession, Capital Gains, and Deductions (Chapter VI-A) together constitute the bulk of the Income Tax marks. These four chapters deserve the most preparation time.
For GST, Supply, Input Tax Credit, and Registration are consistently the highest-weightage chapters. The GST MCQ section often presents transaction scenarios and asks candidates to classify the supply or calculate the eligible credit.
Paper 4 is divided between cost accounting methods and management decision-making tools.
| Chapter Topic | |
| 1 | Overview of Cost and Management Accounting: Cost concepts, classification, cost sheet |
| 2 | Material Cost: Purchase, storage, issue, EOQ, stock levels, inventory valuation |
| 3 | Employee Cost: Labour time and attendance, remuneration methods, idle time, overtime |
| 4 | Direct Expenses and Overheads: Treatment, absorption, over and under absorption |
| 5 | Activity Based Costing (ABC): Cost drivers, cost pools, ABC vs traditional costing |
| 6 | Cost Records and Cost Audit |
| 7 | Job and Batch Costing: Job cost sheet, batch costing |
| 8 | Service and Operation Costing: Transport, hospital, power costing |
| 9 | Standard Costing: Setting standards, variances (material, labour, overhead), reconciliation |
| 10 | Marginal Costing: Contribution, BEP analysis, P/V ratio, profit planning |
| 11 | Budget and Budgetary Control: Types of budgets, fixed vs flexible, cash budget, preparation |
| 12 | Integrated Accounting: Integration with financial accounts |
| 13 | Cost Management Techniques: Target costing, lifecycle costing, value chain analysis |
| 14 | Decision Making: Limiting factor, make or buy, accept or reject, pricing decisions |
Standard Costing and Marginal Costing together are the highest-weightage topics in Paper 4. Variance analysis (material, labour, variable overhead, fixed overhead) must be practised exhaustively as it appears in every session.
Budget preparation questions require systematic practice. Candidates who understand the logical sequence of preparing a cash budget, production budget, and raw material purchase budget have a significant advantage.
Paper 5 is primarily theoretical but requires structured presentation and precise recall of Standards on Auditing (SAs).
| Chapter Topic | |
| 1 | Nature, Objective and Scope of Audit: Audit vs investigation; types of audit |
| 2 | Audit Strategy, Planning and Programme |
| 3 | Audit Documentation and Audit Evidence |
| 4 | Risk Assessment and Internal Controls |
| 5 | Audit of Items of Financial Statements |
| 6 | The Company Audit: Appointment, rights, duties, liabilities of auditor |
| 7 | Audit Report: Types of opinions, emphasis of matter, other matter paragraphs |
| 8 | Audit of Different Types of Entities: Bank audit, government audit, NGO audit |
| 9 | Standards on Auditing: SA 200 series to SA 800 series (key standards) |
| 10 | Special Audit Assignments: Due diligence, forensic audit, peer review |
| 11 | Ethics and Code of Conduct: ICAI Code of Ethics; threats to independence; safeguards; NOCLAR |
| 12 | Miscellaneous: Quality control, engagement letters |
| SA Number Topic | |
| SA 200 | Overall Objectives of the Independent Auditor |
| SA 230 | Audit Documentation |
| SA 240 | Fraud in an Audit |
| SA 260 | Communication with Those Charged with Governance |
| SA 299 | Joint Audit |
| SA 315 | Identifying and Assessing Risks |
| SA 320 | Materiality |
| SA 500 | Audit Evidence |
| SA 505 | External Confirmations |
| SA 520 | Analytical Procedures |
| SA 550 | Related Parties |
| SA 570 | Going Concern |
| SA 700 to SA 706 | Forming an Opinion; Modified Opinion; Emphasis of Matter |
SAs must be studied by number and content. Questions frequently ask "As per which SA should the auditor...?" or present audit scenarios and ask what the auditor's correct course of action is. Learning the SA numbers alongside their content (not just the topic name) is essential.
Ethics (Chapter 11) has increased in importance under the new scheme. The ICAI Code of Ethics and NOCLAR (Non-Compliance with Laws and Regulations) guidelines must be studied in detail.
Paper 6 is divided between Financial Management (approximately 60 marks) and Strategic Management (approximately 40 marks).
| Chapter Topic | |
| 1 | Scope and Objectives of Financial Management: Finance function, goals, agency theory |
| 2 | Types of Financing: Short-term and long-term financing; sources |
| 3 | Financial Analysis and Planning: Ratio analysis; cash flow and fund flow statement |
| 4 | Cost of Capital: WACC, cost of equity (CAPM, Gordon model), cost of debt |
| 5 | Capital Structure and Leverage: Operating, financial, combined leverage; optimal structure |
| 6 | Capital Budgeting: NPV, IRR, MIRR, Payback, Discounted Payback, PI |
| 7 | Dividend Policies: Gordon model, Walter model, MM hypothesis |
| 8 | Management of Working Capital: Operating cycle; management of cash, debtors, creditors, inventory |
| Chapter Topic | |
| 1 | Introduction to Strategic Management: Vision, mission, objectives, strategy |
| 2 | Strategic Analysis: SWOT, PESTLE, Porter's Five Forces, BCG matrix |
| 3 | Strategic Choice: Grand strategies, generic strategies (Porter), Ansoff matrix |
| 4 | Strategy Implementation: Organizational structure, leadership, culture |
| 5 | Strategic Control and Evaluation |
| 6 | Digital Transformation and Strategy |
| 7 | Emerging Trends in Strategic Management |
Capital Budgeting (Chapter 6) and Cost of Capital (Chapter 4) are the highest-weightage topics in Financial Management. Practise NPV, IRR, and WACC calculations to the point where the approach is automatic.
Strategic Management is conceptual. Frameworks like Porter's Five Forces, BCG matrix, and SWOT analysis must be understood deeply enough to be applied to unfamiliar case scenarios. The MCQ section in Paper 6 frequently presents business situations and asks candidates to apply a strategic framework.
| Paper ICAI Material Supplementary Reference | ||
| Paper 1: Advanced Accounting | ICAI Study Material and Practice Manual | PC Tulsian, Grewal and Gupta |
| Paper 2: Corporate and Other Laws | ICAI Study Material | Bare Acts (Companies Act 2013, IBC, FEMA) |
| Paper 3: Taxation | ICAI Study Material (session-specific) | Vinod Singhania (Taxmann) |
| Paper 4: Cost and Management Accounting | ICAI Study Material and Practice Manual | Ravi Chand, ICAI RTP |
| Paper 5: Auditing and Ethics | ICAI Study Material | ICAI SAs Compilation |
| Paper 6: Financial Management | ICAI Study Material | Prasanna Chandra, IM Pandey |
Cover all chapters of all six papers at least once. Allocate time proportionally: Papers 1, 3, and 4 require daily numerical practice. Papers 2, 5, and 6 require reading and note-making.
Re-cover high-weightage chapters in depth. Begin solving ICAI Mock Test Papers and Revision Test Papers.
Solve complete previous year papers in timed conditions. Focus final revision on chapters from which errors were made in mock tests.
Use the CA Intermediate Syllabus Tracker throughout this period to ensure no chapter is overlooked.
Does the CA Intermediate syllabus change every year? The core syllabus is stable, but taxation (Paper 3) is updated annually for new amendments. ICAI announces through official circulars the specific assessment year and GST notifications applicable to each session.
Are case-study questions in the MCQ section of all six papers? Yes. All six papers include a 30-mark MCQ section under the new scheme. ICAI frames these as scenario or case-study based questions to test practical application rather than rote recall.
Is negative marking applicable in CA Intermediate? No. There is no negative marking in any of the six CA Intermediate papers, including the MCQ section.
Which paper is the hardest in CA Intermediate? Difficulty varies by student background. Paper 3 (Taxation) is considered challenging because of annual amendments and dual coverage (Income Tax + GST). Paper 1 (Advanced Accounting) and Paper 5 (Auditing) also have higher failure rates in many sessions.
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