Department of BBA has conducted a finance club activity for students of BBA program at 01.30 PM on 18th April 2015.
Mr. Sandeep Kumar Sahu (In-charge finance club activity) emphasized about objective & vision of finance club activity. He focused towards achieving academic as well as practical and professional knowledge. He explained and presented about basics of Value Added Tax (VAT), and transactional entries of VAT at the time of purchase and sales and discharging vat liability to the state Government. He also explained about concept of service tax and passing transactional entries while providing, receiving services and paying service tax to the Central Government, the concept of income, income tax, and liability of payer of income related to tax deducted at source and passing of the transactional entries.
Then Mr. Atulesh Sharma (Lecturer) asked the students of their understanding, about basic as well as advance recording of transactions. He interacted positively with the students, and cleared the doubts and answered the questions asked by the students.
Students participated and discussed the issues very actively. They got clear picture in their mind about concept of TDS as well as concept of income tax, and applicability of TDS at the source of arising of income by payer. Students belonging to non-commerce background benefitted with fundamental to advance journey of accounting transactions. Last but not the least, students were benefitted from this activity.
At the end program was accomplished with cheerful environment and with warm vote of thanks.