The Post Graduate Department of Commerce at Mehr Chand Mahajan DAV College for Women organised a webinar on the topic ‘Wealth Creation through Personal Finance Management’. Suryakant Sharma, Senior Consultant, AMFI Northern Region, Ex-DGM, SEBI and Amit Mishra, Senior Manager, NSDL E-Governance Infrastructure Limited were the eminent speakers on this occasion. Suryakant Sharma elucidated the modalities of personal finance management and differentiated between wealth accumulation and wealth creation. He highlighted the key factors such as inflation, tax aspects of an income, etc. to be considered while making investment decision. Focusing on the importance of term insurance, Sharma advised the participants to opt for a suitable and appropriate investment alternate by explaining about several products such as SIP, SIT and SWP for the salaried people as well as for other young earners. He further explained thoroughly the process of investing in the Mutual Funds by giving practical examples. Amit Mishra explained about various hues of National Pension Scheme to plan a financially secure retirement. Over 113 participants registered for the event and benefitted from the expertise of the resource persons.
In another event, the Commerce Department organised an online session on ‘Problems and Prospects of E-filing of Income Tax Returns’ by Amitoz Singh, CA, Ex-Chairman of Chandigarh Branch of NIRC of ICAI. In his talk, Singh dwelt upon the Alternative Tax Regime for Individuals and HUF’s under section 115BAC and highlighted the key points of difference between old and new tax regime. He also explained the exemptions and deductions available under the Income Tax Act and the essential guidelines and process of E-filing. Singh introduced the participants to various income tax return forms like ITR 1, ITR 2, Form 16 A, Form 26AS etc. available for individuals and Hindu Undivided Family under different categories. The session witnessed an overwhelming participation of over 101 participants.
Principal Dr. Nisha Bhargava expressed appreciation for the endeavours of the Commerce Department to equip students with skills in the crucial fields of Personal Finance Management and ITR. She added that such initiatives hold immense significance for overall development of the students.