After B.Com (Hons), what should I do first: MBA or M.Com?

MBA is better looking at it's wide field of prospects. But, it always should go by your interests. Otherwise, MBA with Finance major will open wide scope. I am a student of Doon Business School, Dehradun, and I have seen MBA Finance people have grabbed packages as high as Rs 23.5 lacs.

You are eligible for both the courses. And, both are equally good. If you want to pursue career in Lectureship or as an accountant or audit work, you may opt for M.Com. If you are interested into management related career like Operations, Event management etc. You may go for MBA/PGDM.