The first President of the Indian National Congress was

The President of a session presides over and conducts the proceedings of that meeting — a role distinct from founding, organizing, or acting as general secretary of the same body. Each annual session of the Indian National Congress (INC) elected its own presiding President, separate from the person who organized the sessions.

The first INC session was held at Bombay in December 1885. At that session, Womesh Chandra Bonnerjee (W.C. Banerjee) was elected the presiding President, while Allan Octavian Hume — a retired British civil servant who conceived and organized the Congress — served as its General Secretary, not its President.

• A.O. Hume — organized and helped found the Congress and served as its first General Secretary, but organizing/founding a body is not the same as presiding over it; he was never elected President of any INC session.

• Surendranath Banerjee — founded the Indian Association in 1876 (later merged with the Congress) and did preside over later INC sessions, but only well after the founding session, not at the very first one.

• Mahatma Gandhi — returned to India from South Africa only in 1915 and first presided over an INC session in 1924, decades after the Congress's founding session in 1885.

So among the options, only W.C. Banerjee held the presidency of the first (1885) session of the Indian National Congress.