The Department of Management organized a Guest lecture on the topic “Practical aspects of Income Tax Return filing” for the students of SY BBA(FS) on 27th October 2022. The Resource Persons for the session were Ms. Rizwani Vaz, Accountant and Mr. Sahil Phadte, Accountant. The objective of the session was to provide practical knowledge about filing Income Tax Return on the Income Tax portal. 62 students attended the session.
Ms. Radhika Naik, student of SY BBA(FS) welcomed and introduced the Speakers. The Resource Person Mr. Sahil Phadte, began with the session by briefing about the different heads of Income, the types of ITR’s and its applicability and the importance of choosing the right ITR form. The speaker also spoke why it is important to file Income Tax Returns, and the consequences faced for not filing return on time.
The second Resource Person, Ms. Rizwani Vaz took over the session by displaying the interface of the Income Tax portal. She exhibited the steps involved in filing the Income Tax Return on the portal and explained the documents required for filing returns, different forms linked to Income Tax, deductions available for salaried individual etc. The speaker also emphasized on the amendment in the new tax regime with respect to the Tax slab rates and computation of income.
At the end of the session, they spoke about different ways to reduce tax liability, with the help of case studies. The speakers of the session addressed the queries raised by the students. The session ended with the Vote of Thanks proposed by Ms. Seeham Baig, a student of SY BBA(FS). The teachers in charge for the session were Asst. Prof. Cinola Vaz and Asst. Prof. Vinaya Kirloskar.
