The Faculty Development Programme (FDP) Cell of VVM’s Shree Damodar College of Commerce & Economics organized an insightful session titled “Computation of Income Tax under Old and New Regimes” on 15th April 2025 at 11:00 AM in the College Smart Classroom. The primary objective of the session was to enhance the understanding of income tax computation among 22 teaching faculty (03 males, 19 females) and 1 non-teaching faculty (1 male) members, thereby enabling them to make informed decisions regarding tax planning under both regimes.
The session was conducted by Prof. (CA) Subrahmanya Bhat, Associate Professor in Commerce & Management. A qualified Chartered Accountant, Prof. Bhat delivered a comprehensive and comparative overview of the old and new tax regimes. Key topics included the applicable tax slab structures, deductions available under sections such as 80C and 80D in the old regime, and the simplified slab system with limited exemptions in the new regime.
Using practical illustrations and real-life examples, Prof. Bhat explained how individuals can evaluate which regime may be more financially beneficial based on their income levels and eligible deductions. The session was highly interactive, with active participation from faculty members who posed thoughtful questions on topics related to exemptions, tax planning, and filing procedures.
The session concluded with a Q&A segment, further enriching the discussion and enhancing participant understanding. Assistant Professor Dr. Lizette D’Costa, Faculty-in-Charge of the FDP Cell, concluded the session by expressing her appreciation to the resource person and participants for making the event a successful and engaging learning experience.
Expected Outcome of the Activity
Faculty members were equipped with practical knowledge and techniques to compute income tax under both the old and new regimes, enabling better financial decision-making and tax planning.
