Teaching & Education Entrance Exam

UGC NET 2018 Importance and Summary:
On behalf of University Grants Commission (UGC), Central Board of Secondary Education (CBSE) conducts National Eligibility Test (NET). UGC NET is conducted twice a year in order to select candidates for only Assistant Professor or both Junior Research Fellowship (JRF) and Assistant Professor in Indian universities and colleges. As per media reports, from 2018 onward UGC NET will be conducted once a year.
Please refer to the link provided below for details on eligibility to apply for the UGC NET. As per my knowledge, candidates who have secured 55% and above in their UG degree are allowed to apply for this exam. However, there are other criteria which you must satisfy in order to be eligible to apply. Please check for pre-requisites at the link mentioned below.
https://www.shiksha.com/teaching-education/exams/ugc-net

As a M.Com student, you can choose commerce subject in NET examination.To apply for this examination, you must holds a post-graduate degree course with minimum 55% marks from a recognised University, final year appearing candidates are also applying for this examination.
For preparation firstly note down the syllabus.The NET exam is administered in three phases (one paper in each phase). The Paper-I consists General Aptitude Questions and the other two papers, Paper-II and III contain questions related to the concerned subject.
Refer Good Books and purchase books specified by UGC that may help you to clear your basic concepts and logics as well as the cover whole syllabus.
Preparing Short-Notes is the best way of practicing your syllabus in a short time and revise everything. To test your knowledge for what youve learned and understood, start teaching someone else. This will definitely help you in memorizing things for long duration. You may help others in understanding difficult topics and solving tough questions.

Yes, you can!
Qualification Eligibility for NET:
Qualifying Examination: Masters or equivalent degree from Universities/Institutions recognised by UGC.
Subjects: The qualifying examination must be passed in subjects like humanities (including languages) and social Science, computer Science & applications, electronic Science, etc.
Minimum Marks: The percentage of marks required in the qualifying examination is 55% (50% marks in case of SC/ST/OBC-NCL/PWD categories).
Appearing Candidates: Candidates appearing for final examinations towards a Master's degree (or equivalent) are also eligible to apply.
Relaxation: Relaxation of 5% marks in qualifying examination shall be given to Ph.D degree holders whose Masters level examination had been completed by 19th September 1991.