Introduction to Labh Panchami:

Labh Panchami is known as Saubhagya Panchami, Gyan Panchami, and Labh Pancham in Gujarat. Labh means ‘benefit.’ This is an auspicious day in the Gujarati calendar. It is observed on the fifth day (Panchami) during ‘Shukla Paksha’ (the waxing phase of moon) of Diwali celebrations in the Tamil month of Kārttikai (mid-November to mid-December).

Significance of Labh Panchami:

The festival occurs at the end of Diwali, and Hindu devotees believe that performing the pooja on this day brings wealth, profit, and good fortune on the personal as well as professional front. In Gujarat, Labh Panchami is also considered the New Year. Businesses open new account ledgers, known as Khatu in Gujarati on Labh Panchami by writing ‘Shubh’(good) on the left side and ‘Labh’(gain) on the right side. A ‘Swastika’ symbol is drawn in the middle of the page.

Rituals followed on Labh Panchami:

Prayers are offered to Lord Ganesha and Goddess Lakshmi for well being and prosperity. Sharda pooja (prayers for ancestors) by those who didn’t observe it on Diwali. Members of the business community open their shops today and perform puja of their new account ledgers.
Friends and family are visited, and sweets are exchanged.
Donating food and clothing is also an essential part of Labh Panchami.

Benefits of Observing Labh Panchami:

It is the day to seek blessings from God for material gain such a good job, good health, and wealth. Those who want to open a new business or expand their existing business can do so on this day.