A Session on “ Basics of Financial Planning and Taxation”
The BBA(Financial Services) Department organized an offline session on Basics of Financial Planning and Taxation on 23rd March 2022. The Resource Person for the session was Ms. Manalee Vernekar certified Financial Planner and Chartered Wealth manager.74 BBA(FS) Students attended the session.
Ms. Manalee began the session by explaining why is it important to save and invest, she stated ‘by making an investment you are also saving and accumulating for a rainy day’ she highlighted that any investment done should fetch a rate of return more than the rate of inflation then only it is worth investing.
She suggested that college students should start investing in mutual fund as it would give them good returns if they start early, she also explained the importance, benefits and process of compounding.
Tax planning was another concept that was covered, she expound the various deductions that an individual can apply under Income tax act.
She suggested some useful investment tips.
Choose investments carefully after doing adequate research
Don’t fall for quick –buck schemes that promises high returns
Review your stock and mutual fund investments periodically
Consider the tax implications on returns you earn on your investments
Keep things simple and avoid complicated investments that you don’t understand
The session ended with a question and answer session at around 12:45 p.m.