On January 3, 2025, the DC Auditorium buzzed with enthusiasm as B.Com (CA) and B.Com (PA) students gathered for an enlightening state-level seminar on “Income Tax and GST Returns.” Organized by the B.Com (CA) Department, the session aimed to bridge the gap between theoretical knowledge and practical application, ensuring students gain a comprehensive understanding of India’s key tax systems.
The seminar provided a detailed overview of the Income Tax structure, explaining its various slabs, exemptions, deductions, and the importance of accurate and timely filing. Students were introduced to the step-by-step process of filing Income Tax Returns (ITR), with a focus on common mistakes that individuals often make, such as incorrect documentation and missed deadlines.
The session further delved into the Goods and Services Tax (GST), emphasizing its role in simplifying the indirect tax structure and promoting a unified national market. The speaker explained GST registration, return filing procedures, and the reconciliation process, highlighting how errors in GST filings could lead to penalties and affect business operations.
Interactive Q&A segments allowed students to clarify doubts, while real-world case studies illustrated how businesses and individuals navigate the complexities of tax compliance. The seminar not only equipped attendees with essential tax knowledge but also emphasized the importance of responsible financial practices in both personal and professional spheres.
By the end of the session, students left with enhanced confidence, ready to apply their newfound knowledge in real-life scenarios, further preparing them for careers in commerce, accounting, and entrepreneurship.
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