A PROJECT REPORT ON

‘TALLY ERP 9 WITH GST AT SANJIT RANA & CO.’

A PROJECT SUBMITTED TO

UNIVERSITY OF MUMBAI FOR PARTIAL COMPLETION OF DEGREE OF

BACHELOR OF COMMERCE (ACCOUNTING & FINANCE)

UNDER THE FACULTY OF COMMERCE

BY

SAYYED SOHAIB MUNAVER

(SEAT NO. :)

UNDER THE GUIDANCE OF:

PROF. AMRITPAL SINGH CHAHAL

ROYAL COLLEGE OF ARTS, SCIENCE & COMMERCE

PENKARPADA, MIRA ROAD EAST,

DIST. THANE – 401107

MARCH 22-23

1
 ROYAL COLLEGE OF ARTS, SCIENCE AND COMMERCE

SHRISTHI HOUSING COMPLEX, MIRA VILLAGE, PENKAR PADA,

THANE 401107,

NEAR DAHISAR CHECK NAKA.

CERTIFICATE
This is to certify that MR. SAYYED SOHAIB MUNAVER has worked and duly
completed her project work for the degree of bachelor in accounting and finance under
the faculty of commerce in the subject of accounting and finance and her project is
entitled, “TALLY ERP 9 WITH GST” under my supervision.

I further certify that the entire work has been done by the learner under my guidance and
that no part of it has been submitted previously for any degree or diploma of any
university

It is her own work and facts reported by her personal finding and investigation.

Name and signature of internal examiner

PROF. AMRITPAL SINGH

. .

Date of submission Name of external examiner

2
 DECLARATION BY LEARNER

I the undersigned MR. SAYYED SOHAIB MUNAVER here by, declare that the
work embodied in this project work titled “TALLY ERP 9 WITH GST AT SANJIT
RANA & CO.” forms my own contribution to the research work carried out under the
guidance of Prof. AMRITPAL SINGH is a result of my own research work and has not
been previously submitted to any other University for any other Degree/ Diploma to this
or any other University.

Wherever reference has been made to previous works of other, it has been clearly
indicated as such and included in the bibliography.

I, here by further declare that all information of this document has been obtained and
presented in accordance with academic and ethical conduct.

Name and Signature of the learner

Certified by

Name and Signature of the Guiding Teacher

3
 ACKNOWLEDGEMENT

To list who all have helped me is difficult because they are so numerous and the depth is
so enormous. I would like to acknowledge the following as being idealistic channels and
fresh dimensions in the completion of this project.

I take this opportunity to thank the University of Mumbai for giving me a chance to
work on this project.

I would like to thank Founder Sir, A.E Lakdawala for giving me the opportunity to
study in the esteemed college and doing the course of Accounting and Finance.

I would like to thank our I/C Principal, Dr. Chitralekha Kotian for providing the
necessary facilities required for completion of this project.

I would like to thank the Dean Madam, Prof. Kamala Arunachalam, for the facilities
and support for completion of the project.

I would like to thank the Managing Trustee, Prof. Maleka Bootwala for providing the
necessary facilities required.

I would like to thank the Managing Trustee and Treasurer, Ms. Zainab
Valikarimwala for always boosting our morale.

I take this opportunity to thank the Coordinator of department of BMS & BAF, Prof.
Kamal Rohra for his moral support and guidance.

I would like to express my sincere gratitude towards my project guide, Prof. Amritpal
Singh Chahal whose guidance and support made this successful.

I would like to thank my Employer CA Sanjit Rana for giving me exposure and
enhancing my skills.

I would like to thank Our College Library for providing us with the vast ocean of
knowledge.

Lastly, I would like to thank each and every person who directly and indirectly helped me
in the completion of the project especially my parents and peers who supported me
throughout my project.

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 EXECUTIVE SUMMARY
This Internship Program Has Given Me An Exposure To Practical Knowledge; It Gave
Me An Opportunity To Apply My Theoretical Skills And Knowledge To Practice. As A
Student of Professional Course I Have Gain Lots of Knowledge related to filing GST
return. The Report Titled ‘TALLY ERP 9 WITH GST SANJIT RANA & CO.’ Is An
Outcome Of Internship Programmed This Internship Programmed Facilitates Me To
Apply My Understanding Of Theoretical Knowledge In The Practical Field. Working as
an intern in this firm helped me to sharpen my skills which are required in the practical
field. Working here helped me to gain valuable industrial knowledge which demands a
separate set of skills and expertise.

This Company where I worked provided me an immense practical knowledge regarding

the most leading accounting software i.e. TALLY ERP.9 under the rules and regulations
of the CA by laws of the Institute of Chartered Accountant of India. I learned to deal with
different situations, had experience of firm’s working environment which affects an
employee performance and attitude towards work.

The executive summary gives an overview 25 days internship .Which include my

experience in filing GST return Completed by Me In SANJIT RANA & CO. It Is
Located In Mira Bhayandar.

This Concern Is Doing The Said Profession Since Last Many Years. Its Main Objective
Is to serve Chartered Accountant, Finance & Taxation Services. In The Said Concern I
Get Different Types Of Work In Accounting Field. I Do GST Work Like Filing Of
Return GSTR1, GSTR2B And GSTR3B and Maintaining The Records.

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 TABLE OF CONTENT
SR.NO PARTICULARS PAGE.NO
1 Introduction 1-44
1.1 Organizational overview 2
1.2 Introduction to Tally 9
Software
1.3 Introduction to Ledger 20
1.4 Ledger Creation 22
1.5 Accounting Vouchers 27
1.6 Maintaining Inventory In 30
Tally ERP 9
2 Literature Review 45-48
3 Research Methodology 49-59
4 Data Interpretation & 60-67
Analysis
5 Sharing of Experience 68-70
6 Recommendation 71
7 Conclusion 72
8 Annexure 73
9 Bibliography 76-78

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 CHAPTER 1: INTRODUCTION

OVERVIEW OF SANJIT RANA & CO.

They provide the best possible solutions and consultancy to their clients. With the hard
work from their competent team of the consultants & professionals, they have managed
to provide the effective services to its various esteemed clients.
They also help new businessman in developing their business by providing them the right
information on where to invest and not. The firm also has a side business of real estate.
They also update and cross check the bank statements of the bank statements of the
clients. They always believe in quality of service and consider clients relation as
goodwill. They believe in building trust of the clients

 NAME OF THE ORGANIZATION:- SANJIT RANA & CO.

 VENUE :- No. A/6, Sonam Saraswati Building, B Wing, Mira Road, Mumbai -
401107
 E-MAIL :- sanjitrana75@gmail.com
 OBJECTIVES :-

1. To deliver accurate, relevant and timely information to the decision makers.

2. Help clients to stay compliant and lawful.
3. To maintenance filing GST return.

 SWOT ANALYSIS:-

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 1. STRENGTH:-
 Experienced and Skilled workforce
 Low employee turnover
 Co-operate attitudes
 Good name in the market

2. WEAKNESS:-
 Lack of office space
 Lack of internal procedures
 Delay in payments

3. OPPORTUNITIES:-
 Automation opportunities
 Personal relation with customer

4. THREAT:-
 New competitors entering the market
 Clients deciding to keep business books themselves
 Increasing cost
 Maintaining trust of new clients

1.1 Introduction to Tally software

Tally is versatile and massive software package. It is used by various types of trade and
industry. Tally is an ERP accounting software package used for recording day to day
business data of a company.
Tally software stores all the business transactions of each account in detail. Tally
accounting software provides a solution around inventory management, stock
management, invoicing, purchase order management, discounting, stock valuation
methodology, etc. Tally software comes with easy-to-use interface thus making it
operationally simple.

Tally solutions Pvt. Ltd.

It is a Bengaluru based software company that currently sells into more than 100
countries beyond its native India, including the United Kingdom, Bangladesh and the

8
Middle East.

INDUSTRY Computer Software

FOUNDER Shyam Sunder Goenka, Bharat Goenka

FOUNDED 1986

HEADQUARTERS Bengaluru, India

FORMER NAME Peutronics

AREA SERVED India, Bangladesh, Middle East, United Kingdom

1.2 Different Versions of Tally

1. Tally 3.0
2. Tally 3.12
3. Tally 4
4. Tally 4.5
5. Tally 5.4
6. Tally 6.3
7. Tally 7.2
8. Tally 8.1
9. Tally 9
10. Tally ERP 9

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 11. Tally Prime

These are the different versions of Tally Software. These versions have been updated
time to time. Tally Prime is the latest version which was released in the year 2021.

Tally ERP 9 is one of the most widely used financial software. Tally ERP 9 reports can
help a business owner make informed decisions to increase efficiency, reduce costs, and
organize business operations.
With Tally ERP 9, accurate, up-to-date business information is available at your
fingertips anytime. It provides a Comprehensive solution for the accounting and
inventory needs of a business.
It provides the capability to generate fully accurate tax returns in a matter of minutes and
is also capable of extracting, interpreting and presenting financial data.
Tally ERP 9 is the world’s fastest and most powerful concurrent Multi-lingual business
Accounting and Inventory Management software. Tally ERP 9, designed exclusively to
meet the needs of small and medium businesses, is a fully integrated, affordable and
highly reliable software. Tally ERP 9 is easy to buy, quick to install, and easy to learn
and use. Tally ERP 9 is designed to automate and integrate all your business operations,
such as sales, finance, purchasing, inventory, and manufacturing. With Tally ERP 9,
accurate, up-to-date business information is literally at your fingertips anywhere. The
powerful new features and blazing speed and power of Tally ERP 9 combined with
enhanced MIS, Multilingual, Data Synchronization and Remote capabilities help you
simplify all your business processes easily and cost-effectively.

1.3 Salient Features of Tally ERP 9

 A leading accounting package: The first version of Tally was

released in 1988 and, through continuous development, is now
recognised as one of the leading accounting packages across the
world, with over a quarter million customers. Tally’s market share
is more than 90%.

 No accounting codes: Unlike other computerized accounting

packages which require numeric codes, Tally ERP 9 pioneered the
‘no accounting codes’ concept. Tally ERP 9 users have the freedom
to allocate meaningful names in plain English to their data items in
the system.

 Complete business solution: Tally ERP 9 provides a

comprehensive solution to the accounting and inventory needs of a
business. The package comprises financial accounting, book-
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 keeping and inventory accounting. It also has various tools to
extract, interpret and present data.

 Integrated/Non-integrated accounting and inventory: With

Tally ERP 9, the user is able to choose to maintain accounts only. If
accounting with inventory is opted for, the user can choose whether
it should be integrated or not.

 Flexible and easy to use: Tally ERP 9 is very flexible. It mimics

the human thought process, which means that Tally ERP 9 can
adapt itself to any business need. Tally ERP 9 users need not
change the way their business is run to adapt themselves to the
package

 Speed: Tally ERP 9 provides the capability to generate instant and

accurate reports, which assist the management to take timely and
correct decisions for the overall productivity and growth of the
company.

 Power: Tally ERP 9 allows the user to maintain multiple

companies and with unlimited levels of classification& grouping
capabilities. It also allows drill down facility from report level to
transaction level.

 Flexibility: Tally ERP 9 provides flexibility to generate instant

reports for any given period (month/year) or at any point of time
besides providing the facility to toggle between Accounting &
Inventory reports of the same company or between companies. •
Concurrent multilingual capability: Tally ERP 9 offers you the
exclusive capability of maintaining your accounts in any Indian
language, viewing them in another language and printing them in
yet another Indian language.

 Real time processing: Immediate posting & updating of books of

accounts as soon as the transactions are entered, thereby facilitating
instant statements & Reports. It also facilitates a real-time multi-
user environment.

 Versatility: Tally ERP 9 is suitable for a range of organizations,

from small grocery stores to large corporations with international
locations and operation

 Multi-platform availability: Tally ERP 9 is available on multiple

versions of windows. It runs on a single PC or on a network. On a
network, it supports access via any combination of platforms.
Online Help: The Tally ERP 9 Online Help (Alt+H) provides
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 instant assistance on basic and advanced features or any other
relevant topics of Tally ERP 9.

 Tally.NET: is an enabling framework which establishes a

connection through which the remote user can access the client’s
data without copying / transferring the data.

 Remote Access: Tally ERP 9 provides remote capabilities to

access the data from anywhere and anytime.

 Control Centre: works as an interface between the user and Tally

ERP 9 installed at different sites and enables the user to centrally
configure and administer Site/User belonging to an account.

 Support Centre: allows a user to directly post his support queries

on the functional and technical aspects of the Product.

 Auditor’s Edition: Tally ERP 9 offers a special Auditors’ Edition

of Tally ERP 9, which provides auditing and compliance
capabilities exclusively for Chartered Accountants
Functional Features of Tally ERP 9

Basic Accounting Basic

Inventory
Complete book-keeping Stock categories
Books, registers and statements of Stock query by stock group, or stock
accounts category
General ledgers Multiple godowns
Accounts receivable and accounts payable Stock transfers to godowns and branches
Flexible voucher numbering Multiple stock valuation methods
Flexible classification of account heads Batch-wise/Lot-wise, including expiry
date handling
Panoramic view Alternate units of measure and tail units
Drill-down display Tracking through receipt notes/delivery
notes/rejections inwards/rejections
outwards
Database reporting Additional costs incurred on purchase
Voucher and cheque printing Movement/Profitability analysis Party-
wise/Item- wise/Stock Group-wise
Columnar reports Customisable sales invoices using
price lists with multiple prices
Bank reconciliation Sales and purchase order processing
Cash flow statement

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Advanced Accounting Advanced Inventory
Multiple companies Stock items classified as raw
materials, work-in- process, finished
goods
Multi-currency Bill of Material with auto-adjustment of
stocks
Multiple financial years Job-working concepts, including sub-
contracting
Comparison of data using multi-columnar Additional cost of manufacturing with
reporting notional value and percentage
Memo vouchers CENVAT support
Post-dated vouchers Reorder levels
User-defined voucher types Stock ageing analysis

Technology Advantages:

 Simple and rapid installation: Tally.ERP 9 has a simple, menu-

driven installation procedure. The user can install the program files
on any drive if the hard disk has partitions. The user can also
specify the name and directory location of the program files.
Tally.ERP 9 uses minimum hard disk space in the local drive. Its
installation on the local disk takes just a few seconds.

 Unlimited multi-user support: A multi-user version of Tally.ERP

9 can be installed on a network, having any number of computers
with different operating systems such as Win 98, NT, 2000, XP etc.

 Internal backup/restore: Tally.ERP 9 has an in-built, user-

friendly ‘backup and restore’ option. It helps the user to take a
backup of one or more companies or all companies, in a single
directory, in the local hard disk, or in any external media.

 Data reliability: Tally.ERP 9 offers reliable data. It uses a flexi-

field, flexi- length, self-indexed, weighted file structure for an
extremely compact and fast database. Tally.ERP 9 is robust.
Tally.ERP 9 uses signalling quality data integrity checks, at regular
levels, to ensure the complete reliability of data.

 User-defined security levels: Tally.ERP 9 offers high levels of

security. Users can define multiple levels of security according to
13
 their requirements. Every authorised user in the company can have
an individual password, with rights to use specific features only.
The user with the administrator level password will have full access
and can set controls for other users.

 Data security: Tally.ERP 9’s data integrity checks ensure that

there are no external changes to the data.Tally.ERP 9 also uses a
binary encoding format of storage to prevent devious grouping of
information.

 Tally audit: The Tally.ERP 9 audit feature provides the user with
administrator rights and the capability to checkthe entries made by
the authorised users and alter these entries, if necessary. Once the
entries are audited, Tally.ERP 9 displays the altered entries, if any,
along with the name of the user, who has altered the entry, and the
date and time of the alteration.

 TallyVault: Tally.ERP 9 offers a data encryption option called

TallyVault. Without the valid TallyVault password, the data cannot
be accessed. Tally.ERP 9 follows the DES (Data Encryption
Standard) encryption method tosafeguard the data.

 Removal of data into a separate company: Tally.ERP 9 allows

users to maintain a company for any number of financial years.
Once the books of accounts have been completed for the earlier
financial years, the user can split the company data into multiple
companies as per financial periods required. The user can specify
the date from which the company has to be split and Tally.ERP 9
will split the company to form two companies as per periods
specified. Once the data has been split, the closing balance of the
first period(first company) becomes the opening balance for the
next period (second company).

 Multi-directory for company management: The user can create

multiple directories to store data. The data stored in these
directories can be accessed directly in Tally.ERP 9, by specifying
the path.

 Import/Export of data: Any transaction can be exported and

imported to other software after suitably altering the current
structures to accept the Tally.ERP 9 data structure. Data can also be
imported to Tally. ERP 9 by writing a TDL program. The data
which is to be exported from Tally.ERP 9 can be in XML, HTML
14
 or ASCII format.

 Data Synchronization: Synchronization is the process of

exchanging Tally.ERP 9 data between two or more locations. This
process enables a branch office to send its data to the head office,
over the Internet or a private network.

 Graphical analysis of data: Tally.ERP 9 provides graphical

analysis of data which helps the user to perform deeper analysis.
The user can generate graphical analysis reports such as Sales
register, Purchase register, Ledgers, Funds flow, Cash flow, Stock
Item registers and so on. This helps the management to quickly
judge performance and be better prepared for difficult times.

 Protocol support: Tally.ERP 9 provides protocol support for

HTTP, HTTPS, FTP, SMTP, ODBC and raw sockets with data
interchange formats such as XML, HTML with XML islands,
SOAP and related formats. Protocol refers to a mechanism by
which information (data) can be put into or taken from Tally.ERP
9. Formats refer to the standard for information to be generated
from Tally.ERP 9 or from other applications which can exchange
data with Tally.ERP 9.

 Direct web browser access: While working on Tally.ERP 9, the

user can directly log on to the Tally website, provided he/she has
access to the Internet. The website lists details of all the facilities
offered by Tally. ERP 9. The user can also download the latest
release of Tally.ERP 9 as and when it is available. The Tally
website also offers Tally Chat, by which a user can communicate
with a Tally representative and get required information.

15
Getting Started withTally.ERP 9

1.4 Creating a Company in Tally ERP 9

The first step towards working with Tally.ERP 9 is to create a ‘company’.
A ‘company’ in Tally.ERP 9 is a central repository where you can
maintain all the financial records of your business, and from where you can
extract the required financial reports and statements.
The procedure to create a company is explained below. To facilitate easier
understanding, we have illustrated the creation of a company.

 Go to Gateway of Tally > Company Info. > Create Company

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The Company Creation screen appears as:

The fields in the company creation screen and the information to be filled
in each of them are explained below. To navigate between the fields, use
the Enter/Tab/Arrow Keys, or Mouse clicks.

 Directory: The path to the location of Tally ERP 9 data is

displayed here. By default, the path provided while installing Tally
ERP 9 will be displayed. However, you can press backspace and
specify the location in which you want the data to be stored.

 Name: Provide a name for the company that is being created.

 Primary Mailing details: The mailing name and address details

are picked from here for any report such as balance sheet and
statements of accounts.

 Mailing Name: The name provided for the company in the name
field is automatically displayed here. However, you can change it

17
 as per requirements. The name specified here will be used for
mailing purposes.

 Fill in the company’s address.

 Country: Select the country in which the company is located. This

will allow users to choose the statutory capabilities available for
that country. In this example, the country selected is India.

 Fill in the relevant numbers in the Telephone No. and Mobile No. fields.

 E-Mail: Fill in the company’s official e-mail ID here. This

will be used while e-mailing reports and statements from
Tally.ERP 9.

Books and Financial Year Details:

 Financial Year from: This refers to the twelve-month accounting

period of the company.
 Books beginning from: The date provided in the aforesaid field
will be automatically displayed here. In the example, the date is
retained. However, if you have started with maintaining your books
of accounts with Tally ERP 9 mid-year, the required date can be set
accordingly. Tally will not allow you to record the transactions for
dates preceding the date entered in the books beginning from field.

Security Control:

 Tally Vault Password (if any): Once you enter a password here,
you will need it to open your company each time. The name of a
company that is locked using Tally Vault will be hidden with the
asterisk ‘*’ symbol. You need to provide the Tally Vault password
to open and access the company.

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  Repeat Password: Here, enter the password entered in the Tally
Vault field, as a confirmation.

 Use Security Control: Setting this option to Yes will allow you to
define the access rights for each user who will access your
company. This feature is explained in forthcoming chapters.

Base Currency Information:

 Base Currency Symbol: The base currency symbol will be filled as per country
selected.

 Formal Name: The currency’s formal name will be filled here. In this
example, it is INR (Indian Rupees).

 Suffix Symbol to Amount: For some countries, the currency

symbol is specified after the amount. Thisoption can be enabled for
such countries, so that the currency symbol may be printed after the
amount. However, Vridhi Traders is an Indian company and hence
this option is set to No.

 Add Space between Amount and Symbol?: Tally.ERP 9 will

provide a single space between the amount and the currency
symbol, if this option is set to Yes. For e.g.: KSh 5,000. Notice the
space between symbol and the amount.

 Show amounts in Millions?: If the company’s financial statements

need to have their values expressed in terms of millions, set this
option to Yes.

 Number of Decimal Places: By default, the number of decimal

places for the base currency is set to
 However, you can have up to 4 decimal places. The Indian
currency has 2 decimal places whereas certain other countries
require 3 decimal places and so on.

 Word representing amount after decimal: The symbol for

amounts expressed in decimals will be set by default. For India, it

19
 is Paise.
 Decimal Places for printing amounts in Words: You can specify
the number of decimal places for printing the amount in words.
This number should be equal to or lesser than the number specified
in number of decimal Places field. For example, if the currency has
up to 3 decimal places, the value to be printed in words can be
restricted to 2 decimal places.

The message Accept? Yes or No

will be displayed.Press Y or
Enter to save the details

Notice that Indus Enterprises is highlighted. This indicates that it is the

currently selected company from the list ofopen companies. You can click
on the name of another company to make it as the currently open
company.

Select a Company

By ‘selecting’ a company, you are essentially opening the company it in Tally.ERP 9.

 Go to Gateway of Tally > F3: Company Info. (Alt+F3)

 Click Select Company, or press S. Tally.ERP 9 displays the Select Company
screen, with a List of Companies
that are available in the location specified. You can also press F1 to get to the Select
Company screen.

Shut a Company

By ‘shutting’ a company, you are essentially closing a company.

Go to Gateway of Tally > F3: Company Info. (Alt+F3)

 Click Shut Company. Tally.ERP 9 displays the Close Company

screen, with the List of Companies that are open. You can also use

20
 Alt+F1 from the Gateway of Tally to get to this screen.

Alter Company Details

By ‘altering’ a company, you are modifying the details which you have provided in

the Company Creation screen.

Go to Gateway of Tally > F3: Company Info. (Alt+F3)

 Click Alter or press A. Tally ERP 9 displays the Select Item

screen, with a List of Companies that are available in the location
specified. Select the company which you need to alter and press
Enter to view the Company Alteration screen. Alter the company
details as required and accept the screen.

The company features menu can be found by clicking F11: Features on

the vertical button bar. The effect of these options will be reflected only in
the company for which they are enabled.

The ‘Configurations’ in Tally.ERP 9 are options that help you modify the
way a feature works. The configuration menu can be found by clicking
F12: Configure on the vertical button bar. The options when enabled,
will have an effect on all the companies in the data directory.

Once you have created a company in Tally.ERP 9, the next step would be
to setup Tally.ERP 9’s ‘Features’ and ‘Configurations’.

There are sets of options that help you optimize your usage of Tally.ERP 9.

Features
The Company Features section in Tally.ERP 9 is divided into the following major
categories:

 Accounting Features

21
  Inventory Features
 Statutory & Taxation
 TSS Features
 Add-On Features

You can press F11: Features from any screen of Tally.ERP 9 or you may
also click the F11: Features button available in the vertical button bar, to
enable the required features. The features are specific only to the company
currently in use (for which the said feature is enabled), thereby allowing
flexibility of independently enabling different features for each of the
companies.

Load the company and go to Gateway of Tally > press F11:

Company Features

There are various settings available under accounting features, inventory

features and statutory & taxation features, which facilitate the entry of
additional information during voucher entry.
22
Accounting Features

The Accounting Features consists of configurations/functionalities,

which generally affect accounting transactions and reports.

The Accounting features section is further divided into six sub-sections, namely:

 General
 Outstandings Management
 Cost/Profit Centres Management
 Invoicing
 Budgets and Scenario Management
 Banking Features
 Other Feature

Go to Gateway of Tally > F11: Company Features > Accounting Features

or click

23
  Enable the required features
 Press Enter to accept

Inventory Features

The Inventory features comprise of configurations/functionalities

pertaining to inventory transactions and reports. The Inventory features
section is further divided into seven sub-sections, namely:

 General
 Storage & Classification
 Order Processing

24
  Invoicing
 Purchase Management
 Sales Management
 Other Features

Go to Gateway of Tally > F11: Company Features > Inventory

Statutory & Taxation Features

The Statutory & Taxation features comprise configurations/functionalities

pertaining to statutory compliances available in Tally ERP 9. The Statutory
features are country specific and strictly depend upon the country selected
in the Company Creation screen.

TSS Features

The Tally Software Services (TSS) screen comprises information about

Connection, Remote Access and SMS Access details of a company. The
TSS Features will be available only when Use Security Control is set to
Yes in Company Creation screen.

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Go to Gateway of Tally > F11: Company Features > TSS Features or click F4: TSS

Add-On Features
Customers, to meet their accounting requirements, may purchase
customised solutions from Tally Partners. Depending on the customer
requirement, the solution provider formulates the solution. In some cases, a
solution may require the introduction of a new feature in Tally.ERP 9 to
support the functionality. F6: Add-On Features is a place holder for the
features provided in the Add-ons/Local TDLs loaded.
Go to Gateway of Tally > F11: Company Features > F6: Add-On Features
Data Management and Security Features
The data management and security features comprises of configurations/functionalities
pertaining to:
 Taking backup of a company
 Restoring the backup of a company
 Splitting a company
 Exporting and importing data using Tally.ERP 9
 E-Mailing
 Data Security

Payroll Features

Tally.ERP 9 integrates payroll features with accounting features, and

simplifies payroll processing. Tally.ERP 9 enables users to set up and
implement salary structures, ranging from simple to complex, as per the
organisation’s requirements. Users can also align and automate payroll
processes and integrate the same with other accounting applications.
Tally.ERP 9 also supports payslip printing, recording of attendance, leave,
and overtime. Users can also generate gratuity and expat reports.

Configurations

In Tally.ERP 9, F12: Configurations are provided for Accounting,

Inventory & printing options and are user- definable as per the business’
requirements.
The F12: Configurations are applicable to all the companies residing in
the Tally.ERP 9 data Directory. The F12:Configuration options vary
depending upon the context, i.e., if you press F12: Configure from
voucher entry screen, the respective F12: Configurations screen is

26
displayed.
Go to Gateway of Tally > F12: Configure

Introduction to Ledger
A ‘Chart of Accounts’ is a list that depicts the accounts that a business
uses to record transactions in its books of accounts.
Tally.ERP 9 will put together your business’ chart of accounts based on the ‘Ledgers’ and
Groups’ that you identify.

Ledgers and Groups Ledger

A ‘Ledger’ is an account head. For instance, the sales account head will
be called a ‘Sales Ledger’ in Tally.ERP 9. Similarly, a customer would
be an account head, and will be called a ‘party ledger’.
You can create ledgers specific to your business transactions.
For a newly created company, there are two pre-defined ledgers available in Tally.ERP 9:
 Cash
 Profit & Loss A/c

To view the list of ledgers, go to Gateway of Tally > Accounts Info.

> Ledgers > Display (Multiple Ledgers) >Select All Items.

The Multi Ledger Display Screen

27
Groups

A ‘Group’ is the accounting group under which ledgers of the same nature
can be classified. For instance, Tally.ERP9 has a default Group ‘Sales
Accounts’, under which all the sales ledgers will be classified.
There are 28 pre-defined groups in Tally.ERP 9, which feature in the chart
of accounts of many organisations. Out of these, 15 groups are primary
groups and the remaining 13 are sub-groups.
Among the 15 primary groups, 9 groups are balance sheet items and the
remaining 6 groups are Profit & Loss A/c items. You can use these groups
to build your chart of accounts, as well as create and used group’s specific
to your business transactions.

However, you may also alter the nomenclature of these 28 groups.

To view the list of the 28 groups, known as the List of Accounts, go to
Gateway of Tally > Accounts Info. >Groups > Display (Multiple

28
Groups) > Select All Items.
The Multi Group Display Screen

Out of the 15 Primary groups, the following appear in the Profit &
Loss Account:
 Sales Accounts
 Purchase Accounts
 Direct Incomes or Income (Direct)
 Indirect Incomes or Income (Indirect)
 Direct Expenses or Expenses (Direct)
 Indirect Expenses or Expenses (Indirect)

Ledger Creation
In Tally.ERP 9, we can create the ledgers in two ways given below:

Single Ledger Creation: Here we can create one ledger at a time.

Multiple Ledger Creation: Here we can create different ledgers at

one go and also ledgers which belong to particular group.

Single Ledger Creation

Creation of Proprietor’s Capital Account ledger from single ledger creation screen.
Go to Gateway of Tally > Accounts Info. > Ledgers > Create (Single Ledger
Creation)

 Enter Name as Proprietor’s Capital Account

 Select Capital Account from the List of Groups

29
Creation of Proprietor’s Capital Account ledger from single ledger creation screen.

 Go to Gateway of Tally > Accounts Info. > Ledgers > Create (Single Ledger
Creation)

 Enter Name as Proprietor’s Capital Account

 Select Capital Account from the List of Groups

 Press Y or Enter to accept the screen.

30
Overview of GST Law in India

GST is known as the Goods and services tax. It is an indirect tax which has replaced
many indirect taxes in India such as the Excise Duty, VAT, Services tax, etc. The Goods
and Services tax was passed in the parliament on 29th March, 2017 and came into effect
on 1st July, 2017. In other words, Goods and Services tax (GST) is levied on the supply of
Goods and Services. Goods and Services tax law in India is a comprehensive, multi-
stage, destination-based tax that is levied on every value addition.

GST is a single domestic indirect tax law for the entire country.

Launch of GST

The Goods and Services Tax was launched at midnight on 1st July, 2017 by the
President of India Pranab Mukherjee and Prime Minister of India, Mr.
Narendra Modi. The launch was marked by a historic midnight.

(1st July- 2nd July) session of both the houses of parliament convened at the Central
Hall of the Parliament. Though the session was attended by high-profile guests from
the business and the entertainment industry including Ratan Tata, it was boycotted
by the opposition due to predicted problems that it was bound to lead to for the
middle- and lower-class Indians. It is one of the few midnight sessions that have
been held by the parliament- the other being the declaration of India’s independence
on 15th August 1947, and the silver and golden jubilees of that occasion. Member of
the Congress boycotted the GST launch altogether. They were joined by member of
the Trinamool Congress, Communist Parties of India and the DMK. These parties
reported that they found virtually no difference between the GST and the existing
taxation system, claiming that the government was trying to merely rebrand the
current taxation system. They also argued that the GST would increase existing rates
on common daily goods while reducing rates on luxury items, and affect many
Indians adversely, especially the middle, lower middle and poor classes.

31
Advantages of GST

 Simple and easy online procedure.

The entire process of GST (from registration to filing returns) is made online, and
it is super simple. This has been beneficial for start-ups especially, as they do not
have to run from pillar to post to get different registrations such as VAT, excise,
and service tax.

 Composition scheme for small businesses.

Under GST, small businesses (with a turnover of Rs 20 to 75 Lakhs) can benefit as
it gives an option to lower taxes by utilizing the composition scheme. This move
has brought down the tax and compliance burden on many small businesses.

Disadvantages of GST

 Increased costs due to software purchase.

Businesses have to update their existing accounting software or ERP software
to GST compliant software or buy GST software so that they can keep their
business going. Both the options lead to increased cost of software and training
of employees for the efficient use of new software.

 Adapting to a complete online taxation system.

Unlike earlier, businesses are now switching from pen and paper invoicing and
filing to online return filing and making payments. This might be tough for some
smaller businesses to adapt to.

 SMEs will have a higher tax burden.

32
Smaller businesses, especially in the manufacturing sector will face difficulties
under GST. Earlier, only businesses whose turnover exceeded Rs 1.5 crore had to
pay excise duty. But now any business whose turnover exceeds Rs 20 Lakhs will
have to pay GST.

 Compliance burden.
This taxation regime has made it mandatory for companies to register with GST
under all states they operate in. The entire process of registering with the regulating
body, issuing GST-compliant invoices, maintaining digital record keeping and filing
returns have increased the burden on SMEs and others significantly.

Additionally, the infrastructure of all states in India is not equipped to implement

the E-Governance model followed by GST. Several companies find it challenging
to adopt or transition into this regime.

What is IGST, CGST, UTGST and SGST?

IGST- ‘Integrated tax’ means the integrated Goods and Services tax levied under
the IGST act. IGST (Integrated GST) is payable on supply of Goods or Services
or both in inter-state supplies. IGST is intermediary tax mainly on B2B
(Business to Business) transactions. If IGST is paid on B2C transactions
(Business to Consumer) the state where Goods or Services or both are consumed
will get their share of SGST. IGST will ensure that Goods or Services or both
and taxes move together across the country, which will ensure seamless and tax-
free movement of Goods and Services within the country.

UTGST- In case of Union Territories which do not have legislature,

(UTGST) Union Territory Goods and Services Tax will be payable. These
Union Territories are as follows: a.) Andaman and Nicobar Islands. b.)
Lakshadweep. c.) Dadra and Nagar Haveli and Daman and Diu. d.) Ladakh.

33
 SGST- The State Goods and Services Tax (SGST) is a tax charged on intra-state
supplies of both goods and services by the state government and governed by the
SGST Act. An important point to note is that any tax liability obtained under
SGST can be set off against SGST or IGST input tax credit only.

CGST-Central Goods and Services Tax (CGST) is levied on intra-state

supplies of both Goods and Services by the Central Government and is
governed by the CGST Act. SGST, governed by the state government, will
also be levied on the same intra-state supply.

Input Tax Credit (ITC)

Input tax credit (ITC) is the core concept of GST as GST is destination-based Tax. ITC
avoids cascading effect of taxes and ensures that tax is collected in the state in which
goods or services or both are consumed.

Definition of Input tax: -

Section 2 (62) of CGST Act defines ‘ Input Tax ’ as follows- “ Input Tax” in relation to a
registered person, means the Central Tax (CGST), State Tax (SGST), Integrated-Tax
(IGST) or Union Territory Tax (UTGST) charged on any supply of Goods or Services or
both made to him and includes: -
a.) The integrated goods and services tax charged on import of goods. b.) The tax
payable under reverse charge of CGST, IGST and SGST.

INPUT TAX CREDIT IN GST

Input Credit Mechanism is available to you when you are covered under the GST Act.

Which means if you are a manufacturer, supplier, agent, e-commerce operator,

aggregator or any of the persons mentioned here, registered under GST, you are eligible
to claim INPUT CREDIT for tax paid by you on your PURCHASES.

How to claim input credit under GST? To claim input credit under GST –
• You must have a tax invoice(of purchase) or debit note issued by registered
dealer
Note: Where goods are received in lots/installments, credit will be available against the
34
tax invoice upon receipt of last lot or installment.

• You should have received the goods/services

Note: Where recipient does not pay the value of service or tax thereon within 3 months of
issue of invoice and he has already availed input credit based on the invoice, the said
credit will be added to his output tax liability along with interest.

• The tax charged on your purchases has been deposited/paid to the government
by the supplier in cash or via claiming input credit
• Supplier has filed GST returns

Possibly the most path breaking reform of GST is that input credit is ONLY allowed if
your supplier has deposited the tax, he collected from you. So, every input credit you are
claiming shall be matched and validated before you can claim it.
Therefore, to allow you to claim input credit on Purchases all your supplier must be GST
compliant as well.
There’s more you should know about input credit –

• It is possible to have unclaimed input credit. Due to tax on purchases being

higher than tax on sale. In such a case, you are allowed to carry forward or
claim a refund.
If tax on inputs > tax on output –> carry forward input tax or claim refund If tax on
output > tax on inputs –> pay balance

No interest is paid on input tax balance by the government

• Input tax credit cannot be taken on purchase invoices which are more than one
year old. Period is calculated from the date of the tax invoice.

• Since GST is charged on both goods and services, input credit can be availed
on both goods and services (except those which are on the exempted/negative
list).

• Input tax credit is allowed on capital goods.

• Input tax is not allowed for goods and services for personal use.

• No input tax credit shall be allowed after GST return has been filed for
September following the end of the financial year to which such invoice
pertains or filing of relevant annual return, whichever is earlier.

35
 Chapter 2 Literature Review

Article 1

TallyPrime, a Flagship Business Software from Tally, is integrated with

Government Portal
The Week Focus Updated: December 06, 2021
Tally Solutions, an Indian-based business management software provider, has integrated
its software TallyPrime with various government systems and built connected solutions
to help businesses meet compliance with ease. The recent one is the integrated solution to
generate e-way bills instantly.

In December’20, Tally announced the availability of connected e-invoicing solutions to

generate e-invoice within their software. Taking this leap forward, the company extended
the connected solution to generate e-way bills instantly with their latest release
TallyPrime 2.0.

Tally, a recognised and ISO certified GSP (GST Suvidha Provider), communicates
directly with the government portal (e-invoice and e-way bill portal) and shares the
invoice details through TallyPrime on a real-time basis. Once authenticated, TallyPrime
will receive a unique IRN (Invoice Reference Number) and QR code details from IRP
and updates the e-invoices accordingly. In the case of the e-way bill, the software will
receive the e-way bill number from the portal and accordingly, it adds the details on
invoices

As per Tally solutions, the businesses can generate e-invoices and e-way bills either for a
single bill, in the flow of recording an invoice or generate bulk e-invoices or e-way bills
for more than one invoice.

In the absence of integrated solutions, businesses need to generate e-way bills or e-

invoices by mentioning the invoice details on the portal either using offline tools (JSON)
or direct entry on the portal.
36
Using TallyPrime, their customers can access business reports on a browser from a
mobile or any device from anywhere. The new product update of Tally Prime comes with
a mobile-friendly viewing experience of reports on the browser.

With the latest release TallyPrime 2.0, the company introduced the ‘Save View’ feature
in reports that help users create and save multiple views of the same report. Over three
lakhs+ customers have upgraded to TallyPrime 2.0 from earlier versions or releases.
TallyPrime, considered to be one of their significant product releases in recent years,
replaced Tally.ERP 9, which was the company’s primary software for over a decade.
Today, over 5 lakh customers have moved to TallyPrime from Tally.ERP 9.

REVIEW:
 Integrated TallyPrime software with various government systems
and built connected solutions to help businesses meet compliance
with ease.

 Availability of connected e-invoicing solutions to generate e-

invoice within their software.

 Availability of new interface features helped SMEs to maintain smooth and

higher approachability with their clients

 Mobile friendly comfort brought for better online report viewing.

Article 2

Tally.ERP 9 Release 6.6 launched

March 06, 2020 - Updated 02:28 pm IST | Chennai, March 6

BY OUR BUREAU

Tally Solutions Pvt Ltd, a provider of business software products, on Friday, launched
Tally.ERP 9 Release 6.6, which will enable its customers to access Tally software on any
device from anywhere. The data, however, will be kept on the customer’s machine itself.

Most financial applications contain sensitive and private information that needs to be
accessed every day for business continuity. As cloud adoption increases, there is a need

37
for these applications and data to be protected, which is ensured by the latest release, said
Bhuwan Ranjan, General Manager, South Zone, Tally Solutions.

Tally is being used by nearly 6 million users across industries in about 100 countries.
With around 25,000 partners, Tally has one of the largest partner ecosystems, he told
newspersons. The company has only one product — Tally.ERP 9 — with the cost for a
single user being ₹18,000 plus GST. For multi-users, it is ₹54,000 plus GST, he added.

REVIEW

 It helps speed up the tracking status of order and delivery.

 This release 6.6 enables you to a simple, secure, and fastest mode to open
Tally.ERP 9 reports on the browser from any device
 It allows you to access invoice copies via direct mail, mobile devices and web
browsers.
 Beneficial for the people who are working remotely and require to see Tally
reports & invoices.

Article 3
49th GST Council Meeting Updates

The 49th GST Council meeting was chaired by Smt. Nirmala Sitharaman, Union Minister
of Finance & Corporate Affairs, on February 18, 2023. The meeting was also attended by
Shri Pankaj Chaudhary, the Union Minister of State for Finance, along with finance
ministers from states and union territories (with legislatures).

REVIEW

 All GST compensation dues to be cleared today since June 2022; To fund it using
own resources and future revenues.

 GoM report on pan masala- special composition scheme and capacity-based

taxation was accepted.
 Special composition scheme for certain sectors - pan masala, Gutkha, etc.
 GoM on appellate tribunal was considered with some modifications which will be
re-drafted and circulated with members of GST Council for approval.

38
 CHAPTER 4: RESEARCH METHODOLOGY

RESEARCH OBJECTIVES

Research is often referred to as scientific inquiry into to a specific problem or situation.

This is because the search for facts needs to be undertaken systematically and
not arbitrarily the Systematic approach to research enables the research to
search for facts ina rational manner and to arrive at logical conclusions
whereas the arbitrary approach attempts to find solutions to problems based on
one's belief and imagination

The Webster's dictionary States research is a careful critical enquiry and

examination in seeking facts are principles diligent investigation in order to
ascertain something

Researchers undertake research with definite objectives. Some of the

important purposes or objectives of research are briefly stated as follows

1. To find solutions to problems:

Research can be undertaken to find solutions to solve specific problems.

For instance, an organisation may initiate research to find solution to the
problem of declining sales of their products in the market. An
educational institution can undertake research to find out the causes of
low attendance or poor results.

A government organisation may undertake research to solve the problem

of water scarcity in a particular area or district or to ascertain the impact
of slums on the quality oflife in a particular city, and such other research
activities. The research enables to find appropriate solutions to specific
problems, which turn helps to improve the quality of performance in

39
various organizations or institutions.

40
2. To verify and test existing laws or theories:

Research may be undertaken to verify and test existing laws or theories.

Such verificationand testing of existing theories helps to improve the
knowledge and ability to handle situations and events. This is true when
the existing theories may not be sufficient or relevant to handle certain
situations and events, and therefore, through research, improvements or
modifications can be made in the existing laws or theories.

3. To obtain information:

Research is undertaken to obtain information, which may not be easily

obtained during the ordinary course of functioning of an institution or an
organisation.

For instance, marketing research may be undertaken to understand the

changes in consumer behavior. A firm may undertake product research
to bring about improvement or modification in the existing product on
the basis of feedback obtained from consumers,dealers and others.

4. To extend knowledge:

Researchers undertake research to extend the existing knowledge in

physical sciences (such as physics, chemistry, mathematics, etc.,) as well
as in social sciences (like sociology, management, psychology, etc.). The
knowledge can be enhanced by undertaking research in general and by
fundamental research in particular.

5. To establish generalizations and general laws:

Research can be undertaken to establish generalizations and general laws

in a particular society. In other words, statements of generality can be
stated through research. For instance, various laws, principles and
models have been developed through research. The AlDA (attention,
41
interest, desire, and action) model, the law of demand and supply, the
law of gravitation, etc., have been developed through observation
experimentation and other methods of research.

6. To predict events:

Research may be undertaken to predict future course of events. For

instance, research may be undertaken to find out the impact of growing
unemployment of educated youthon the social life of the society in
future. The findings of such research would not only indicate the possible
impact, but also would make the concerned authorities to take
appropriate measures to reduce unemployment, to reduce the growth of
population, and to overcome the negative consequences, as and when
they take place.

7. To analyse inter-relationships:

Research may be undertaken to analyse inter-relationships between

variables, so as to derive causal explanations, which in turn would enable
to have a better understanding of our society and the universe in which
we live. Researchers often develop hypotheses and test them to analyse
the causal relationship between variables.

For example, a researcher may study causal relationship between advertising and
sales,

i.e. to find out whether or not advertising causes (results) higher sales.

8. To develop new tools and concepts

Research helps to develop new tools and concepts for a better study of an
unknown phenomenon. For this purpose, exploratory research is
undertaken to achieve new insights into such phenomenon.

42
9. To predict events:

Research may be undertaken to predict future course of events. For

instance, research may be undertaken to find out the impact of growing
unemployment of educated youthon the social life of the society in
future. The findings of such research would not only indicate the possible
impact, but also would make the concerned authorities to take
appropriate measures to reduce unemployment, to reduce the growth of
population, and to overcome the negative consequences, as and when
they take place.

10. To analyse inter-relationships:

Research may be undertaken to analyse inter-relationships between

variables, so as to derive causal explanations, which in turn would enable
to have a better understanding of our society and the universe in which
we live. Researchers often develop hypotheses and test them to analyse
the causal relationship between variables.

For example, a researcher may study causal relationship between advertising and
sales,

i.e. to find out whether or not advertising causes (results) higher sales.

11. To develop new tools and concepts

Research helps to develop new tools and concepts for a better study of an
unknown phenomenon. For this purpose, exploratory research is
undertaken to achieve new insights into such phenomenon.

43
HYPOTHESIS

MEANING AND NATURE OF HYPOTHESIS

The formulation of hypothesis or hypotheses is an important step in the

formulation of research problem. The hypothesis is a tentative
proposition formulated to determine its validity. The hypothesis may
prove to be correct or incorrect. In any event, it leads to an empirical test.
Whatever the outcome, the hypothesis is a question put in such a way
that an answer of some kind can be forthcoming It is an example of the
organized skepticism of science, the refusal to accept any statement
without empirical verification.

Webster's Dictionary defines hypothesis as "an unproved theory,

proposition, supposition, etc, tentatively accepted to explain certain facts
or to provide a basis for further investigation, argument, etc"

William Goode and Paul Hatt define hypothesis as "a proposition which
can be put to a test to determine its validity.

G.A. Lundberg defines hypothesis as "a tentative generalization, the

validity of which remains to be tested."

The following are the characteristics of a good hypothesis

1. Empirically Testable:

A hypothesis should be empirically testable. It should be so stated that it

1s possible to deduce logically certain inferences from it, which in turn
can be tested by field observation. In other words, it should be possible
to collect empirical evidences to test the hypothesis.
44
2. Conceptual Clarity:

The hypothesis must be conceptually clear. The concepts used in the

hypothesis shouldbe clearly defined. An ambiguous hypothesis, which is
poorly detined, cannot be tested, as there would be no standard basis for
knowing what observable facts would constitute its test.

3. Specific:

A hypothesis should be specific and explain the expected relationship

between the variables and the conditions under which these relationships
would hold valid. For example, the concept of socio- economic class
must be specific in terms of indexes suchas income, occupation,
education, etc. Such specific clarity ensures the validity of the results
because more specific the statement, less the possibility that the outcome
is of mere accident or chance.

4. Related to Available Techniques:

A hypothesis should be related to available techniques. The researcher

who does notknow what techniques are available to test the hypothesis
would find difficult to frame useful questions. If hypothesis is not related
to available techniques then it would not be possible to research.
Therefore, the researcher must make sure that relevant techniquesare
available for testing the hypothesis.

5. Theoretical Relevance:

45
A hypothesis should be related to a body of theory or some theoretical orientation.
This condition relates to the theoretic rationale of the hypothesis, i.e., what will
be the theoretical gains of testing the hypothesis? If the hypothesis is related to
some theory, research will help to correct, refute or validate the theory

6. Consistency:

Hypotheses should be logically consistent. Two or more hypothesis

logically derivedfrom the same theory must not be mutually
contradictory.

7. Objectivity:

A hypothesis should be free from bias of the researcher. The value-

judgement, feelings and emotions of the researcher have no place in
framing the hypothesis. The researcher should take every possible care to
see that the hypothesis is tree trom any bias or personalprejudices.

8. Consider all Pertinent Areas of Problem:

The researcher while framing a good hypothesis must consider all the
pertinent areas or aspects of the problem.

SOURCES OF HYPOTHESIS

Hypothesis can be developed from a number of sources. Some of the

important sources are as follows:

1. Intuition:

A person may get ideas to develop hypothesis due to one's own intuition.
Ideas can strike like a flash. It is often said that reflective mind is the
spring of knowledge. The story of laws of gravitation propounded by
Newton at the sight of falling apple is the case of intuition.
46
2. Research Studies:

Research on one problem can help to develop hypothesis solve another

problem. Also, the research studies conducted earlier can be source of
problems, as the researcher can develop hypothesis based on the earlier
research studies.

3. Consultations:

The researcher can hold discussions with experts to develop hypothes1s.

For instance, in academic research, the research student can take the help
of a guide to develop the hypothesis, which can be subsequently tested
through research findings.

4. Theory:

A hypothesis can be developed from a body of theory, which may lead

by way of logical deduction, to the prediction that if certain conditions
are present, certain results will follow. A theory represents what is
known. Logical deductions from the theory lead to new hypothesis. The
hypothesis must be valid, if the theory holds true. For instance, the theory
of human relations in management states that effective human relations
help to improve productivity. On the basis of this theory, a hypothesis
can be developed that "Effective management- labour relations facilitates
higher productivity."

5. Observation:

Hypothesis can be developed through observation. For instance, one can

observe general pattern of buying behavior in the market, and develop a
hypothesis such as "Educated customers prefer branded items than
illiterate customers." The history of Science is fullof instances of
discoveries made just because the right person happened to make the

47
right observation due to characteristic life- history and exposure to the
world of events.

6. Analogies:

Analogies facilitate the development of hypothesis. In the study of

sociology, one comes across analogies wherein the society is compared
to a biological organism, the naturallaw to the social law,
thermodynamics to social dynamics, etc. Such analogies provide
valuable insights, which facilitate the development of Hypothesis.

7. Culture:

Culture provides the basis for developing hypotheses. Culture involves

knowledge, beliefs, morals, laws, customs and traditions, etc. The
cultural norms and values are passed from one generation to another
through institutions like family educational institution1s, religion, etc.
Western cultures are affecting the Indian society, especially in urban
areas. The younger generation is more influenced by western culture
in urbanareas, and therefore, a hypothesis can be developed as "Urban
youth in India is more influenced by western culture as compared to rural
youth in India."

8. Continuity of Research:

The continuity of research in a particular field can facilitate the

development of hypothesis. As the research progresses, the researcher
may reject some of the hypotheses,which may lead to formulation of new
ones capable of explaining dependent variables in subsequent researches
on the same subject.

TYPES OF HYPOTHESIS

 A simple hypothesis is a prediction of the relationship between two

variables: the independent variable and the dependent variable.

48
 A null hypothesis (H0) exists when a researcher believes there is no
relationship between the two variables, or there is a lack of
information to state a scientific hypothesis. This is something to
attempt to disprove or discredit.

 This is where the alternative hypothesis (H1) enters the scene. In an

attempt to disprove a null hypothesis, researchers will seek to
discover an alternative hypothesis.
 A logical hypothesis is a proposed explanation possessing limited
evidence. Generally, you want to turn a logical hypothesis into an
empirical hypothesis, putting your theories or postulations to the test.
 An empirical hypothesis, or working hypothesis, comes to life
when a theory isbeing put to the test, using observation and
experiment. It's no longer just an idea or notion. It's actually going
through some trial and error, and perhaps changing around those
independent variables.
 A statistical hypothesis is an examination of a portion of a population.

RESEARCH HYPOTHESIS

These are the following assumptions made on this project report:

 The users have worked on Tally erp9 the users are aware that Tally
is a software to be installed in systems point
 Tally can be used for GST return filing point
 Tally can be used for extraction of balance sheet and p and L account
 Tally can be used for maintenance of accounts of a company
 There are courses that can be learned for tally
 The people are aware about the use of Tally for GST related work

SAMPLE DESIGN

49
 A sample design is a definite plan for obtaining a sample from
given population. It refers to technique to the procedure
adopted in selecting items for the sampling design.

Some common sampling methods are simple random sampling,

stratified sampling, and cluster sampling.

a) Population: The population targeted was the BCOM BAF & CA inter students
b) Sample: The population targeted was of age group 20 & above.
c) Sample size: The sample selected from the population consisted of 101
students.

Sample method: The sampling that have been undertaken to do this research is
probability method under that random sampling.

50
 CHAPTER 4

DATA INTERPRETATION AND ANALYSIS

Responses received from Google form

 AGE

The question was for the Age of respondent, 100 people responded this question.

Out of total responded, 25% were of the age group (18-25), 27% people were of the age
group (26-35), 29% were of the age group (35-45) and 25% of responded fall under the
age group of (45 and above).

51
  PROFESSION

From the above diagram, 34% of responded are Self Employed Business, 24% are
Professional, 23% responded are Salaried Employees and 19% of the responded are
Students.

 Are you aware about the concept of GST?

The above question was about awareness of the GST among the population.

81% of the responded were aware of the concept of GST and rest 19% of people had no
idea about GST.

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  What does GST stand for?

The question was that how many people know the full form of GST.

73% of responded has correctly answered that it stand for Goods and Service Tax, 20%
of people wrongly answered GST as General Sales Tax and 7% gave wrong answer as
General Service Tax.

 In India GST became effective from?

From the above diagram, it can be seen that 69% of responded has correctly answered the
date when GST became effective i.e 1st July, 2017, 24% of responded wrongly answered
1st August, 2018, rest 7% of responded wrongly answered 31st July 2017.

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 Do you know about Tally ERP9?

The question being responded by 100 people shows almost 64% of them are
aware about this and rest 36% are yet to discover about tally ERP 9.

 Financial Year starts from?

The above diagram is the result on the question when the financial year starts,
The question being responded by 100 people , a good percentage of 79% people
are aware about the financial year period while rest are not .

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 Who introduced Tally ERP 9?

Shyam Sundar Goenka Bharat Goenka introduced Tally ERP 9 software to us and
out of 100 people 89.2% knows it correctly.

 ERP stands for?

Out of total 100 responses, 55% of responded correctly answered the full form of
ERP that is Enterprise Resource Planning whereas other wrongly answered.

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  Which key is used to post entry in debit note in Tally?

From the above diagram it can be seen that, 45% of responded answered correctly that
Ctrl+F9 is key used to post entry in debit note in Tally. As it was a technical question
many responded fail to answer it correctly.

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 CHAPTER 5

SHARING OF EXPERIENCE
We all know that practical experience is the best, and internships give students that hand
on experience they need. Internships built special skills in a person such as multitasking
communicating, learning to deal with diversity, dealing with deadlines are different when
you are working for someone else, not yourself like you do in college. Internships are
also a great way to network with people in the industry. Internship provides you with the
opportunity to grow and learn before fully entering the working world.

Internship in an accounting firm gives you exposure across diverse sectors in different
geographies. The rich and varied experience that you get will help you understand
various sectors from an accounting & finance perspective.

Internship will help you to get additional knowledge as well as helps in applying your
academic knowledge into practical knowledge in job exposure, which is very helpful.

I gained deeper insights and it has helped me significantly with my career planning. I
developed a better understanding of the career path through the internship, helping me to
make an informed career decision. My biggest takeaway would be the new long-term
relationships and connections which I had forged with my colleagues and fellow interns

Always take initiative in everything that you do. Make a log of everything which you
have learnt at the end of each day of internship. Talk to new people and make
connections, be it managers, seniors or fellow interns.

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CERTIFICATE

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