ACCOUNTING PROCEDURES AT

SUNIL MEHRA & ASSOCIATES

PROJECT REPORT SUBMITTED TO

UNIVERSITY SCHOOL OF FINANCIAL STUDIES,
IN PARTIAL FULFILMENT FOR THE DEGREE OF
BACHELOR OF COMMERCE (HONOURS)
(2019 – 2022)

Supervised by: Submitted by:

Dr Aparna Bhatia Sudhanshu
B.com (Hons) Sem-6
17241982984

GURU NANAK DEV UNIVERSITY, AMRITSAR

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INTERNSHIP CERTIFICATE

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STUDENT DECLARATION

I hereby by declare that report entitled Accounting & Finance procedure at

Chartered Accountant firm completed during the session 2019-2022 for
B.Com (Hons.) degree is a Bonafede piece of research work and the all the
sources used to complete this project are duly acknowledged. In case the
project report, or any part of it, is found to be copied or quoted without
reference, I shall be solely heldaccountable for the repercussions arising there
from.

DATED- SUDHANSHU

10-8-2022

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TABLE OF CONTENTS

CHAPTER PARTICULARS PAGE NO.

NO.
1 INTRODUCTION TO PROBLEM

2 PROFILE OF THE ORGANIZATION

3 RESEARCH METHODOLOGY

4 DATA ANALYSIS

5 LEARNING FROM TRAINING

6 SUMMARY AND CONCLUSION

ANNEXURES

 BIBLIOGRAPHY
 QUESTIONNAIRE

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ACKNOWLEDGEMENT
I would like to express my deepest appreciation to all those who provided me the possibility to complete
this report. I have taken efforts in this project. However, it would not have been possible without the kind
support and help of many individuals and the organization. A special gratitude I give to our project mentor
Dr. Aparna Bhatia whose contribution in stimulating suggestions and encouragement helped me to
coordinate my project specially in writing this report. Furthermore, I would also like to acknowledge with
much appreciation the crucial role of the staff, who gave the permission to use all required equipment and
necessary materials throughout the period. I have to appreciate the guidance given by the other supervisor
as well as the panels especially in our project presentation that has improved our project presentation that
has improved our presentation skills thanks to their comment and advices.

(Sudhanshu)

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CHAPTER-1
INTRODUCTION TO THE
PROBLEM

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INTRODUCTION OFACCOUNTING

Accounting, also known as accountancy, is the measurement, processing, and communication of financial and
non-financial information about economic entities such as businesses and corporations. Accounting, which has
been called the "language of business", measures the results of an organization's economic activities and conveys
this information to a variety of stakeholders, including investors, creditors, management,
and regulators.[4] Practitioners of accounting are known as accountants. The terms "accounting" and "financial
reporting" are often used as synonyms.

Accounting can be divided into several fields including financial accounting, management accounting, tax
accounting and cost accounting. Financial accounting focuses on the reporting of an organization's financial
information, including the preparation of financial statements, to the external users of the information, such as
investors, regulators and suppliers and management accounting focuses on the measurement, analysis and
reporting of information for internal use by management. The recording of financial transactions, so that
summaries of the financials may be presented in financial reports, is known as bookkeeping, of which double-
entry bookkeeping is the most common system. Accounting information systems are designed to support
accounting functions and related activities.

Accounting has existed in various forms and levels of sophistication throughout human history. The double-entry
accounting system in use today was developed in medieval Europe, particularly in Venice, and is usually
attributed to the Italian mathematician and Franciscan friar Luca Pacioli. Today, accounting is facilitated
by accounting organizations such as standard-setters, accounting firms and professional bodies. Financial
statements are usually audited by accounting firms,]and are prepared in accordance with generally accepted
accounting principles (GAAP). GAAP is set by various standard-setting organizations such as the Financial
Accounting Standards Board (FASB) in the United States and the Financial Reporting Council in the United
Kingdom. As of 2012, "all major economies" have plans to converge towards or adopt the International Financial
Reporting Standards

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TALLY SOFTWARE

. Tally is powerful accounting software, which is driven by a technology called concurrent multi-lingual
accelerated technology engine. It is easy to use software and is designed to simply complex day to day activities
associated in an enterprise. Tally provides comprehensive solution around accounting principles, inventory and
data integrity. Tally also has feature encompassing global business. Tally software comes with easy to use
interface thus making it operationally simple. Tally accounting software provides a solution around inventory
management, stock management, invoicing, purchase order management, discounting, stock valuation
methodology, etc.

Tally accounting software also comes with drill down options, which can track every detail of transaction. It
helps in maintaining simple classification of accounts, general ledger, accounts receivable and payable, bank
reconciliation, etc.

The technology employed by tally makes data reliable and secure. Tally software supports all the major types of
file transfer protocols. This helps in connecting files across multiple office locations.

Tally accounting software is capable of undertaking financial analysis and financial management. It provides
information around receivables turnover, cash flow statement, activity consolidation and even branch accounting.

Tally accounting software is east to set up and simple to use. A single connection can support multiple users. It
can be easily used

in conjunction with the Internet making possible to publish global financial reports.

Tally accounting software can seamlessly connect with various Microsoft applications

VOUCHING
Vouching is a technical term that refers to the inspection of documentary evidence supporting and substantiating
a financial transaction, by an auditor. It is the essence of auditing

Vouching is the practice followed in an audit, with the objective of establishing the authenticity of the
transactions recorded in the primary books of account. It essentially consists of verifying a transaction recorded
in the books of account with the relevant documentary evidence and the authority on the basis of which the entry
has been made; also confirming that the amount mentioned in the voucher has been posted to an appropriate
account which would disclose the nature of the transaction on its inclusion in the final statements of account.
Vouching does not include valuation.

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Vouching can be described as the essence or backbone of auditing. The success of an audit depends on the
thoroughness with which vouching is done. After entering in all vouchers, only then can auditing start. Vouching
is defined as the "verification of entries in the books of account by examination of documentary evidence or
vouchers, such as invoices, debit and credit notes, statements, receipts, etc.

The object of vouching is to establish that the transactions recorded in the books of accounts are in order and
have been properly authorized and are correctly recorded. “Simple routine checking cannot establish the same
accuracy that vouching can. In routine checking, entries recorded in the books only show what information
the bookkeeper chooses to disclose, however these entries can be fictitious without any vouching or vouchers. By
using a vouching or a voucher system a company will have concrete and solid documentation and evidence of
expenses, capital, and written proof in audits.

Vouching is the essence or backbone of auditing because when performing an audit, an auditor must have proof
of all transactions. Without the proof provided by vouching, the claims provided by the auditor are just that, only
claims. In most cases, hard to detect frauds can only be discovered with vouching. This means that the auditor
must conduct vouching with great importance, if not, he can be charged with negligence which happened in the
case of Armitage v. Brewer and Knott. Through this case, the importance of vouching was realized. In this case,
the auditors were found to be guilty on negligence, because the auditors did not display enough reasonable care
and skill in vouching the wage sheets and ended up failing to detect fraud in manipulation of these wage records
and cash vouchers. When delivering the decision, the Judge stated that "It was clear that a good many documents
were suspicious on either face and called for Inquiry". It was declared that it was essential that due care and
attention are to be given to vouching in auditing.

GST
Goods and Services Tax (GST) is an indirect tax (or consumption tax) used in India on the supply of goods and
services. It is a comprehensive, multistage, destination-based tax: comprehensive because it has subsumed almost
all the indirect taxes except a few state taxes. Multi-staged as it is, the GST is imposed at every step in the
production process, but is meant to be refunded to all parties in the various stages of production other than the
final consumer and as a destination-based tax, it is collected from point of consumption and not point of origin
like previous taxes.

Goods and services are divided into five different tax slabs for collection of tax: 0%, 5%, 12%, 18% and 28%.
However, petroleum products, alcoholic drinks, and electricity are not taxed under GST and instead are taxed
separately by the individual state governments, as per the previous tax system. There is a special rate of 0.25% on
rough precious and semi-precious stones and 3% on gold.[1] In addition a cess of 22% or other rates on top of

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28% GST applies on few items like aerated drinks, luxury cars and tobacco products. Pre-GST, the statutory tax
rate for most goods was about 26.5%, post-GST, most goods are expected to be in the 18% tax range.

The tax came into effect from 1 July 2017 through the implementation of the One Hundred and First Amendment
of the Constitution of India by the Indian government. The GST replaced existing multiple taxes levied by
the central and state governments.

The tax rates, rules and regulations are governed by the GST Council which consists of the finance ministers of
the central government and all the states. The GST is meant to replace a slew of indirect taxes with a federated
tax and is therefore expected to reshape the country's $2.4 trillion economy, but its implementation has received
criticism.[3] Positive outcomes of the GST includes the travel time in interstate movement, which dropped by
20%, because of disbanding of interstate check posts.

Types of GST
There are four different types of GST as listed below:

 The Central Goods and Services Tax (CGST)

 The State Goods and Services Tax (SGST)
 The Union Territory Goods and Services Tax (UTGST)
 The Integrated Goods and Services Tax (IGST)

1. The State Goods and Services Tax (SGST)

SGST is defined as one of the two taxes imposed on transactions of goods and services of every state.
Levied by State Government of every state, SGST replaces every kind of existing state tax that include
Sales Tax, Entertainment Tax, VAT, Entry Tax, etc. Under SGST, the State Government can claim the
earned revenue.

2. The Central Goods and Services Tax (CGST)

CGST is referred as the Central Tax levied on transactions of goods and services which take place within a
state. Imposed by the Central Government, CGST ensures to replace all other Central taxes inclusive of
State Tax, CST, SAD, etc. Prices of goods and services under CGST are charged in accordance with the
basic market price.–

3. The Integrated Goods and Services Tax (IGST)

IGST is applied on the interstate transactions of goods and services. IGST is also applicable on the goods
being that are imported to distribute among the respective states. The IGST is levied when the movement
of products and services occur from one state to another.
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4. The Union Territory Goods and Services Tax (UTGST)
Applicable on the Intra UT supply of goods and services, the aim to impose UTGST is to apply a
collection of tax to provide benefits as same as SGST. The UTGST is applicable to five Union Territories
namely Lakshadweep, Damn and Diu, Dadra and Nagar Haveli, Andaman and Nicobar Islands, and
Chandigarh.

Benefits of GST
GST presents a transparent tax system imposed on the supply of goods and services. When an item is
bought, a common individual sees only the state taxes applicable on the product label and not the various
tax components embedded on the product.

The aim of imposing GST is to improve the ease of business operations by enhancing tax compliance,
boosting revenue receipts of both central and state government and accelerating economy growth.
Eradication of cascading of taxes result in lowered tax burden on many products.

Following are the few benefits of GST mentioned below:

 Eradicates the cascading tax effect

 Allows higher threshold to businesses for registration
 Composition scheme for small business operations
 Easy and Convenient online processes
 Lesser Tax Compliance
 Enhanced Efficiency of logistics

INCOME TAX RETURN (ITR)

Income tax return is the form in which acesse files information about his/her income and tax thereon to Income
Tax Department. Various forms are ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, ITR 6 and ITR 7. When you file a belated
return, you are not allowed to carry forward certain losses.[1]

The Income Tax Act, 1961, and the Income Tax Rules, 1962, obligates citizens to file returns with the Income
Tax Department at the end of every financial year.[2] These returns should be filed before the specified due date.
Every Income Tax Return Form is applicable to a certain section of the Assessees. Only those Forms which are
filed by the eligible Assessees are processed by the Income Tax Department of India. It is therefore imperative to
know which particular form is appropriate in each case. Income Tax Return Forms vary depending on the criteria
of the source of income of the Assessee and the category of the Assessee.

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TAX DEDUCTION AT SOURCE (TDS)
Tax deduction at source (TDS) in India is a means of collecting tax on income, dividends, or asset sales by
requiring the payer (or legal intermediary) to deduct tax due before paying the balance to the payee (and the tax
to the revenue authority).

Under the Indian Income Tax Act of 1961, income tax must be deducted at source as per the provisions of the
Income Tax Act, 1961. Any payment covered under these provisions shall be paid after deducting a prescribed
percentage of income tax. It is managed by the Central Board for Direct Taxes (CBDT) and is part of the
Department of Revenue managed by Indian Revenue Service. It has a great importance while conducting tax
audits. Assessee is also required to file quarterly return to CBDT. Returns states the TDS deducted & paid to
government during the Quarter to which it relates.

OBJECTIVES OF STUDY
The present research work aims to achieve the following objectives: -

1. To understand the perception of people towards GST implementation

2. To prepare books of accounts
3. To learn vouching in tally
4. To understand the procedure of filing GST return
5. To learn about the process of filing ITR
6. To learn about the process of TDS returns

LIMITATIONS OF THE STUDY

There are certain limitations in undertaking this research work

1. The survey of the study is based on a very small sample size, so conclusion can't be generated to a wider
population
2. Data collection is done using convenience sampling method, which itself suffers from many limitations.

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CHAPTER -2
PROFILE OF THE ORGANISATION

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 ABOUT THE FIRM

The firm “Mehra & Associates”- Chartered Accountants was set up in the year 1992 by CA. Sunil Mehra
who has more than 30 years of experience in this profession. Mehra & Associates strives to provide quality
services in the areas of Audit, Taxation-both Direct and Indirect, Business Registration, Financial and
Management Accounting, Income Tax Consultancy, TDS (Tax Deducted at Source) entries, TCS (Tax
Collected at Source) entries, CMA (Credit Monitoring Arrangement) data, GST Registration, Bookkeeping
and much more.
The firm strives to position itself in the given fields as a customized service provider as per the business
requirement. The firm is well-geared to take up any professional assignments in the above areas. The
professional staff members have specialized knowledge and experience necessary for providing all of the
above services.
Planning the business resources coupled with compliances of law has become a challenge today. The
above requires extensive theoretical knowledge and practical experience. The firm Mehra & Associates and
their associates have sound theoretical knowledge and vast practical experience. By sharing their
knowledge and practical experience with the team members and clients, the firm ensures effective and
timely redressal of issues arising on routine basis or that can arise later.
The firm is well-versed with Company Law (including Accounting Standards) and indirect taxes and direct
taxes. They are in a position to provide diligent, efficient and effective professional service in all of the
above areas.

FIRM'S DETAIL

Type Sole proprietorship

Email Sunil.mehra@gmail.com

Mobile no 7986212440

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 ICAI Registration no. ICAI-082364

Proprietors name CA Sunil Mehra

Pan no. IDBPS2995L

Founded 1992

CA Sunil Mehra
Team members Mr. Bhargav
Mrs. Shivani

Mehra& Associates is working as a Chartered Accountants firm under the rules and regulations and code of
ethics designed for all CA firms throughout India by ICAI The Institute of Chartered Accountants of India.
The Institute of Chartered Accountants of India (ICAI) is a statutory body established on 1st July, 1949 by
The Chartered Accountants Act, 1949 for regulating the profession of Chartered Accountancy in the
country. The Institute, functions under the administrative control of the Ministry of Corporate Affairs,
Government of India. The ICAI is the second largest professional body of Chartered Accountants in the
world, with a strong tradition of service to the Indian economy in public interest.
The affairs of the ICAI are managed by a Council. The Council constitutes of 40 members of whom 32 are
elected by the Chartered Accountants and remaining 8 are nominated by the Central Government generally
representing the Comptroller and Auditor General of India, Securities and Exchange Board of India,
Ministry of Corporate Affairs, Ministry of Finance and other stakeholders.
Over a period of time the ICAI has achieved recognition as a premier accounting body not only in the
country but also globally, for maintaining highest standards in technical, ethical areas and for sustaining
stringent examination and education standards. Since 1949, the profession has grown leaps and bounds in
terms of members and student base.
ICAI performs various functions which include regulating the profession of Accountancy, education and
examination of Chartered Accountancy course, continuing professional education of members, conducting

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 Post qualification courses, formulation of Accounting Standards, prescription of Standard Auditing
Procedures, laying down ethical standards, monitoring quality through peer review, ensuring standards of
performance of members, exercise disciplinary jurisdiction, Financial Reporting review and lastly, its input
on policy matters to Government.

SERVICES RENDERED

The firm has identified the following critical parameters for an organization’s success, which range from
optimum utilization of resources to legal compliances. Based on the diverse requirements of business, the
firm is in a position to provide the following services to enable the organizations meet their objectives: -
BUSINESS REGISTRATION

 Formation of a Legal entity which includes Sole Proprietorship, LLP, Company, OPC, Partnership
etc.
 Legal Drafting which includes Partnership Deed etc.
 Business Advisory.
 Various other registrations for startups under various laws.

AUDITS
● Statutory Audit
The firm conducts statutory and regulatory compliance audits for filing of annual or periodic financial
results. Statutory audits are aimed at achieving compliance with regulations, assessing the strength of
controls, confirmation of accounting treatments of recorded transactions, independent review of reported
information and preparation of accountants' report.
● Tax Audit
The firm annually serves our clients in area of tax audit under various provisions of the tax laws. Their
clients include large, medium corporations and small businesses, partnership firms and high net worth
individuals.
● Internal Audit
The internal audits are conducted with varying client requirements but essentially the objective, thereof, is
to provide assurance on controls and processes. The firm also conducts risk-based management audits and
also help them in defining standard operating procedures.

TAXATION

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 Tax planning.

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 Filing of GST Returns for all entities viz., Individuals, HUF's, Partnerships, Firms and Companies

Income Tax Return Filing. o Income Tax Return (Salaried) Income Tax return of salaried employees can be
filed with the help of Form 16 & Form 16A & Form 16A. Form 26 AS helps in getting information about
TDS on salary. The firm helps in better tax planning and reducing the TDS. Income Tax Return
(Business)
Income Tax returns filing is requirement of Income Tax Act, 1961 for companies or businesses. Tax Audit
Report helps in compliance of Income Tax laws. The firm helps in tax planning and avoidance.
 TDS/TCS Return.
 GST Registration on the GSTN Portal.
 Registration of Taxpayer on Income Tax e-Filing website.
 Income Tax Consultancy Work including guidance for transfer pricing, proper tax planning.
 Indirect tax advisory services- GST.
 Representing clients before tax authorities.

 Preparation Bank Loan Application.

 Preparation of Project Report.

 Preparation of CMA data.

 Working Capital.
 Term Loan.
 Loan against property.

COMPANY LAW MATTERS

 Incorporation of company.
 Consultancy on Company Law matters.
 Planning for Mergers, Acquisitions, De-mergers, and corporate re-organization.
 Compliance with fiscal, corporate and tax laws.
 Filing of annual returns along with various forms and documents.
 Maintenance of Statutory records.
 Consultancy on Public/Rights/Bonus Issue of shares.
 Change of Name, Registered Office, etc.

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 Income Tax Return (Business)
Income Tax returns filing is requirement of Income Tax Act, 1961 for companies or businesses. Tax Audit
Report helps in compliance of Income Tax laws. The firm helps in tax planning and avoidance.
 TDS/TCS Return.
 GST Registration on the GSTN Portal.
 Registration of Taxpayer on Income Tax e-Filing website.
 Income Tax Consultancy Work including guidance for transfer pricing, proper tax planning.
 Indirect tax advisory services- GST.
 Representing clients before tax authorities. FUND RAISING

 Preparation Bank Loan Application.

 Preparation of Project Report.
 Preparation of CMA data.
 Working Capital.
 Term Loan.
 Loan against property.

COMPANY LAW MATTERS

 Incorporation of company.
 Consultancy on Company Law matters.
 Planning for Mergers, Acquisitions, De-mergers, and corporate re-organization.
 Compliance with fiscal, corporate and tax laws.
 Filing of annual returns along with various forms and documents.
 Maintenance of Statutory records.
 Consultancy on Public/Rights/Bonus Issue of shares.
 Change of Name, Registered Office, etc.

TALLY ACCOUNTING
 The firm takes up the accounts of small and medium sized businesses and keeps the record of their
transactions in the accounting software.
 Entering Invoices into the accounting software including Sales Invoice, Purchase Invoice, Payment Invoice,
Receipt Invoice, Sales Return Invoice, Purchase Return Invoice etc.
 Auditing of the books kept and their filing.
 Monthly GST Return filing of the books. The GST Summary is available within the accounting software.

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CHAPTER 3
RESEARCH
METHODOLOGY

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RESEARCH METHODOLOGY

Research is a process of systematic inquiry that entails collection of data; documentation of critical
information; and analysis and interpretation of that data /information, in accordance with suitable
methodologies set by specific professional fields and academic disciplines.

This report is based on primary as well as secondary data, however primary data collection was given
more important since it is overhearing factor in attitude studies. One of the most important users of
Research Methodology is that it helps in identifying the problem, collecting, analyzing the required
information or data and providing an alternative solution to the problem, it also helps in collecting the
vital information that is required by the Management to assist them for the better decision making both
day to day decisions and critical ones

SAMPLE
a) SAMPLE SIZE: 50 (Customers)
b) SAMPLING UNIT: Businessmen, Government Servant, Retired, Individuals, Students.

c)I filed 8 income tax returns, 7 GST returns, generated 10 e-way portal bills and applied for 15pan cards
during my internship.
SOURCE OF DATA
Primary Sources of Data:
Primary data is a type of data that is collected by researchers directly from main sources through
interviews, surveys, experiments, etc. Primary data are usually collected from the source—where the
data originally originates from and are regarded as the best kind of data in research.
The sources of primary data are usually chosen and tailored specifically to meet the demands or
requirements of research. Also, before choosing a data collection source, things like the aim of the
research and target population need to be identified.
In the present work, Questionnaire is used to gather the data pertaining to survey.

TOOLS AND TECHNIOUES USED

TALLY-Tally software is an easy to use, scalable business accounting software for micro, small and mid-
sized businesses. Busy software helps with financial accounting and assists in recording and analyzing
accounting transactions.

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Tally accounting solution is used across different industries and business verticals, such as, manufacturing,
retail, FMCG, etc.
Tally accounting software includes GST features, such as, GSTR 2A, E-Way bill and E-Invoicing.
Main functionalities of Tally software include inventory management, production management,
purchase/sales quotations, invoice/billing management, MIS reports & analysis, and so on. Besides being
VAT/GST compliant, busy account software simplifies tasks like GST billing and retains filing and
eliminates the need for manual data entry.

TECHNIQUES USED
In the current research work, following techniques have been employed to analyze the data:

PERCENTAGE-

After collecting the responses of respondents, the percentage of responses were calculated andwere also
recorded in the table.
PIE CHART-

After calculating the percentage, the data was presented in the form of a pie chart and aftermaking the
pie chart an interpretation of data was done.

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CHAPTER 4
DATA ANALYSIS AND
INTERPRETATION

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DATA ANALYSIS AND INTERPRETATION
The data collected as per the responses received on the questions put in the questionnaire has
led to the following analysis and interpretation

Q1. Is implementation of GST has facilitated ease of doing business?

TABLE NO.1
RESPONSE 1
10%
RESPONSE NO. OF PERCENTAGE
YES NO
RESPONDENTS (%) 90
YES 45 90 %

NO 5 10
TOTAL 50 100of YES according to the above table. GST has
INTERPRETATION: 90% replied in favor
helped reduce bundled indirect taxes such as VAT, CST, Service tax and Excise. Less tax
compliance and a simplified tax policy compared to the current tax structure and has thus has
helped reduce various complications and making business easy in India.

Q2. Did GST impact on multi-state organization dealing in goods?

TABLE NO.2
RESPONSE 2
40
RESPONSE NO. OF PERCENTAGE
RESPONDENTS (%) YES
YES 30 60 60 NO
NO 15 40
TOTAL 50 100
INTERPRETATION: From the above table and figure 60% responded in favor of the
question and the reason can be that under the pre-GST scenario, inter-state or intra-state stock
transfers were subjected to a levy of excise duty on the removal of goods. The same is not
subject to VAT/ CST. Thus, GST has positively affected the muti state dealing of goods.

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 Q3. The GST impact on multi-state organization dealing in services?

TABLE NO.3

RESPONSE NO. OF PERCENTAGE

RESPONSE 3
RESPONDENTS (%)
YES 25 60 YES
50 50 NO
NO 25 40
TOTAL 50 100

INTERPRETATION: 50 % of the responses were in the favor of POSITIVE IMPACT

That the muti state organization dealing in services is facilitated by GST.

Q4. Is implementation of GST has facilitated seamless flow of credit?

TABLE NO.4
RESPONSE 4
RESPONSE NO. OF PERCENTAGE
RESPONDENTS (%) 20
YES
YES 40 80 NO
80
NO 10 20
TOTAL 50 100

INTERPRETATION: The GST regime facilitate seamless credit across the entire supply
chain under a common tax base. After modification and acceptance in Form GSTR 2,
the Input credit is credited to the recipient's electronic credit ledger on a provisional basis.
Therefore, GST has facilitated free flow of credit to some extent.

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Q5. The implementation of GST has reduced tax evasion?

TABLE NO.4

RESPONSE NO. OF PERCENTAGE RESPONSE 5

RESPONDENTS (%) 10

YES 45 90 YES
NO 5 10 90 NO

TOTAL 50 100
INTERPRETATION: 90% of the responses were in the favor of POSITIVE IMPACT asthe
rules and regulations under GST has made it quite difficult to evade taxes.

Q6. The impact of GST on cascading (Tax on Tax)?

TABLE NO.6

RESPONSE NO. OF PERCENTAGE

RESPONSE 6
RESPONDENTS (%)
YES
YES 47 94
94 NO
NO 3 6
TOTAL 50 100

INTERPRETATION: 94% of the responses favored POSITIVE IMPACT in this case

which means due to introduction of GST the cascading effect has almost got vanished.

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Q7 The implementation of GST has reduced cost of claiming refund?

TABLE NO.7

RESPONSE NO. OF PERCENTAGE

FIGURE 7
RESPONDENTS (%)
30 YES
YES 35 70
70 NO
NO 15 30
TOTAL 50 100
INTERPRETATION :70% responses favored POSITIVE IMPACT in this case as
because of the introduction of GST mostly things are done through online mode which
involves less cost.

Q8. The time required in preparation for filing returns has been reduced?

TABLE NO.8

RESPONSE NO. OF PERCENTAGE

FIGURE 8
10
RESPONDENTS (%)
YES
YES 45 90
90 NO
NO 5 10
TOTAL 50 100
INTERPRETATION: 90% responses were in the favor of POSITIVE IMPACT i.e., YES
as after the introduction of GST return filing has become a matter of few minutes if allthe
relevant data is readily available.

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Q9. The implementation of GST has reduced paperwork for return?

TABLE NO.9

RESPONSE NO. OF PERCENTAGE

FIGURE 9
RESPONDENTS (%)
YES
YES 48 98
98 NO
NO 2 2
TOTAL 50 100
INTERPRETATION: 98% of the responses favored POSITIVE IMPACT in this case.
After the introduction of GST return filing has become quite an easy task and has also
reduced the need of paperwork as most of the things are done online.

Q10 Is the income tax portal easy to work upon?

TABLE NO.10

RESPONSE NO. OF PERCENTAGE

FIGURE 10
RESPONDENTS (%)
26 YES
YES 13 26 NO
74
NO 37 74
TOTAL 50 100
INTERPRETATION :74% of the responses were in the favor of NO in this case as the
portal generally creates problems. The data even after filing gets eliminated automatically.

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Q11. Are you aware of the turnover limit necessary to get the tax audit done?

TABLE NO.11

RESPONSE NO. OF PERCENTAGE FIGURE 11

RESPONDENTS (%)
YES 12 24 24 YES
NO
NO 38 76 76

TOTAL 50 100
INTERPRETATION: 76% of the responses were NO which means many were not aware
of the tax limit necessary. The turnover if exceeds 5 crores during any year Tax audit
becomes mandatory for such firm.

Q12. Is Tally Software easy to operate?

TABLE NO.12 FIGURE 12

YES NO
RESPONSE NO. OF PERCENTAGE 100

RESPONDENTS (%)
YES 50 100
NO - -
INTERPRETATION 100% of the responses were YES which leads to the interpretation
TOTAL 50 100
that tally software is easy to operate.

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CHAPTER -5
LEARNINGS FROM TRAINING

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5.1 OPERATING TALLY

Tally is simple and designed to be used by people from non-IT and non-accounts background
as well. Ease of discovering information, consistent options, navigating without the need to
remembering the paths and much more makes you start using Tally Prime right away.
To grow your business, and to make the right business decisions, you need the right insights.
With features like “Go To” and “customizable reports” in the new Tally Prime, you can
discover and look at reports, slicing and dicing them the way you want. To help you in your
growth journey, Tally Prime enables you to manage multiple companies and incrementally
add features such as multiple go-downs, multi-currency, order process, cost centers etc. This
helps you get rid of complexities, and in turn, focus on business growth.
Better control over cash flow
Quick and hassle-free bills receivables and payable management help you to get paid faster as
well as managing payment timelines. Also, Tally facilitates easy and efficient stock
movement, making it possible to optimize the cash flow. Besides, the insightful reports at
blink of eye help you make confident decisions and plan the growth of your business better.
Enhanced Business Efficiency
With the speed that Tally brings, you can get things done quickly and save precious time,
helping you do more for less. With Tally Prime, you can print or view the reports being in the
middle of voucher entry, you can load another company being in a report without abandoning
the activity you were on it, get to know the irregularities or odd details from every report that
you view and much more. No more remembering short cut keys, you have the intuitive and
consistent workflow that helps you do work faster.
Tax compliance made easy
Tally’s Prevention, Detection and Correction mechanism ensures that your books are always
accurate, hence giving you the confidence that the returns you file are always correct.

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PREPARATION OF BOOKS ON TALLY
Following are the books that were made in tally:
VOUCHER ENTRY: - Tally provides flexibility to use predefined voucher types, comprising
of accounting and inventory voucher types to record various business transactions. It also
allows you to use Keyboard Shortcut Keys as well as mouse operations during voucher entry.
 BOOKS AND REGISTERS: - Tally provides you capability to generate various books
and registers for any specific period viz., month, date, and year and as on date. In Tally, once
voucher entry is made, the transactions are automatically & immediately in the Day Book and
other Books of Accounts without any additional effort.
Tally allows you to maintain and generate all primary books of accounts and registers like:
 Cash Book
 Bank Book
 Purchase Register
 Sales Register
 Journal Register
 Debit Note Register
 Credit Note Register
 General Ledger

5.2 VOUCHING IN TALLY

Vouching is a technical term which refers to the inspection of documentary evidence
supporting and substantiating a transaction, by an auditor. It is the practice followed in an
audit, with the objective of establishing the authenticity of the transactions recorded in the
primary books of account. It essentially consists of verifying a transaction recorded in the
books of account with the relevant documentary and the authority on the basis of which the
entry has been made; also confirming that the authority on the basis of which the entry has
been made; also confirming that the amount mentioned in the voucher has been posted to an
appropriate account which would disclose the nature of the transaction on its inclusion in the
final statements in account. Vouching do not include valuation. Vouching can be described
asthe essence of accounting.
Step 1: Open the vouchers screen using the following direction: Gateway of Tally >
Accounting Vouchers
Step 2: In this step, we can choose the voucher we want to create. Here’s is the list:

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F4: Contra: For recording money deposited into or withdrawn from the bank,
or for recording any sum transferred between two accounts in the
same company.
F5: Payment This voucher is used for payments made by the business.
F6: Receipts For recording any income earned by the company (sales, rent,
interest, etc.) and for recording the proceeds received from
Sundry debtors.
F7: Journal For recording all adjustment or due entries
such as prepaid expense, accrued income
etc., For recording purchase of assets for
recording Input tax reversal entries, reverse
charge entries under GST
F8: Sales This is used for recording all the sales made
by the company

F9: Purchase This is used for recording all the inventories

purchased by the company in the course of
business.
Step 3: Enter the required information.
The information needed to complete the voucher will vary
depending on the type of voucher we want to create. We will hav
to typically need to determine which ledger the voucher willbe
attached to, as well as enter the date and names of any involved
parties.
Conclusion
Tally is the most popular and Highly Effective accounting
tool which makes the life of an accountant easier. Anyone who is
looking to enter in the field of accounting or wishes to lead a
successful career in accounting must learn Tally. ERP 9 as the
benefits of using Tally. ERP 9 are more for both small and
medium-sized businesses.

33
5.3FILING OF GST RETURNS

GST returns are different forms that a taxpayer has to file for every GSTIN to which he is registered. GST
Returns are a type of form that a taxpayer has to file. There are around 22 types of GST forms available.
From these 22 GST forms, there are 11 that are active, 8 view-only and 3 suspended. So, the number and
type of GST you have to file is based on the type of taxpayer you have registered. GST Returns are filed
quarterly, monthly, or annually. So, with this idea of what a GST return filing is, let’s get started on
understanding the different types of GST returns.

PROCESS TO FILE GST RETURNS

If you have been wondering how to file GST returns, it is not a laborious or confusing process. It can be
filed with the software provided by the Goods and Services Tax Network (GSTN), which will auto-
populate the forms.

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GST RETURN ONLINE FILING PROCESS

The GST return online filing process can be completed in the following steps.
Step 1: Use the GST portal that is www.gst.gov.in.

Step 2: Based on your state code and PAN number, a 15-digit number will be issued.

Step 3: Each invoice that you have needs to be uploaded. Against each invoice, a reference number will be
issued.

Step 4: After this, the next step is to file the outward returns, inward returns, and cumulative monthly returns.
All errors can be rectified.

Step 5: File the outward supply returns of GSTR-1 using the information section at the GST Common Portal
on or before the 10th of the month.

Step 6: The outward supplies furnished by the supplier will be gotten from the GSTR-2A.

Step 7: After this, the recipient has to verify the details of the outward supplies and file details of credit or

35
debit notes.

Step 8: Next, supply details of the inward supplies of goods and services in the GSTR-2 form.

Step 9: Supplier can accept or reject the details provided by the inward supplies made apparent in the GSTR-
1A.

Offline process
To file your GST returns in the offline mode, you need to visit and download the returns offline tool. Once
you have downloaded this tool, you can easily fill in the GSTR-1 and GSTR-2 forms.

PROCESS TO DOWNLOAD GST RETURNS FORM

Step 1: Login to the GST portal.

Step 2: From there, go to the Service→ Returns→ Returns Dashboard.

Step 3: Choose the month and year from the drop-down.

Step 4: Hit “PREPARE OFFLINE.”

Step 5: Navigate to “Download” and click on “GENERATE FILE.”

Step 6: Click on the “Click Here” link and download the link. You should get a ZIP file.

Step 7: Open this file using the GST offline tool by clicking on “Open” under the Open Downloaded Return
file from the GST portal.

36
Now that you know how to download the GST return file, follow the same procedure for every other GSTR
file.

DIFFERENT TYPES OF GST RETURNS

Here is a look at the different types of GST returns.
1. GSTR-1

GSTR-1 has to be filed against all goods and services rendered by a company. This includes all the invoices raised as
well as credit-debit notes against sales for a tax period

2. GSTR-2A

GSTR 2A is a view-only GST return for buying goods and services. It contains the details of all purchases made by
the recipient in any month. All kinds of inward supplies to the recipient can be viewed as purchases made from other
GST registered suppliers.

3. GSTR- 2B

This is also a static, view-only GST return. It is important for buyers of goods and services. GSTR-2B is available
every month from August 2020 and contains ITC data of any period when it is checked back.

4. GSTR- 3B

GSTR 3B is a monthly self-declaration. It furnishes the summarised details of:

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  All outward supplies made

 Input tax credit claimed

 Tax liability

 Taxes paid

5. GSTR-4

GSTR-4 is an annual return to be filed by composition taxable persons. It is to be filed by April 30th following the
relevant financial year. This return replaced GSTR-9A.

6. GSTR-5
GSTR-5 is for those non-resident foreign taxpayers who carry out transactions in India. What do these returns entail?
They contain details of the following:

 Outward supplies made

 Inward supplies received

 Credit-debit notes

 Tax liability

 Taxes paid

7. GSTR-5A

GSTR-5A summarizes all the outward taxable supplies and tax payable by OIDAR, which stands for the Online
Information and Database Access or Retrieval Services provider.

You must file this return by the 20th of every month.

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8. GSTR-6

GSTR-6 must be filed by an Input Service Distributor (ISD) every month. Its composition details are:

 Input tax credit distributed and received by ISD

 All the details of all documents related to the input tax credit
The due date of the GSTR-6 is the 13th of every month.

9. GSTR-7

GSTR-7 is to be filed by the persons who are required to deduct the TDS under GST. TDS stands for “Tax deducted
at source.” Here’s what the GSTR-7 entails:

 Details of TDS deducted

 TDS liability payable and paid

 TDS refund if any

The due date of the GSTR-7 is the 10th of every month.

10. GSTR-8

This form is required to be filed by the e-commerce operators registered under GST. They are usually required to
collect tax at the source. All the details of supplies made through the e-commerce platform and the TCS on the same
are recorded.

It is to be filed by the 10th of every month.

11. GSTR-9

This is an annual return to be filed by taxpayers who are registered under GST. It is due by December 31st for the
year following the specific financial year. What does the GSTR-9 contain? It consists of the following:

 Details of outward supplies made

 Inward supplies received

 Summary of supplies received under HSN code

 Details of tax payable and paid

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 12. GSTR-9C

 It is a statement filed by all the taxpayers registered under GST whose turnover exceeds Rs. 2 crores in a
financial year. This is a unique form in that it has to be certified by a Chartered Accountant or a Cost
Management Accountant after a GST audit and looking over the GST-9.
 It is to be filed by December 31st of the year that follows the relevant financial year.
 However, as per the Union Budget 2021, the mandate for the GST audit by CAs and CMAs has been removed.

13. GSTR-10

The GSTR-10 form is to be filled by a person whose registration was surrendered or cancelled. It is also called a final
return which needs to be filed within three months of the cancellation order or the date of cancellation, whichever
comes first.

14. GSTR-11

 GSTR-11 is for foreign diplomatic missions and embassies that do not pay tax in India but require a refund of
taxes. It is filed by those persons who have been issued a Unique Identity Number (UIN) to get a refund for the
goods and services incurred by them in India. These returns have details of the inward supplies received and
refunds claimed.
 These were the different types of GST returns and who should file the them.

4
 PENALTY FOR LATE FILING OF GST RETURNS
If you have failed to pay the GST returns, there is an interest and late fee to be paid. The interest is at 18%
per annum to be calculated on the amount of outstanding tax. And under the CGST and SGST, there is a
late fee of Rs.100 to be paid each day, so the total comes to Rs.200 per day.

GST TAX RATES FOR DIFFERENT COMMODITIES

5,4FILING OF ITR RETURNS

Form 26AS has details of the tax deposited with the income tax department on your behalf. This includes
the TDS on bank deposits, salary, consultancy charges or even sale of property. You can access it online
through your Net banking account if it is linked to your PAN. Check whether the tax paid by you is
reflecting in the Form 26AS.

Rectify mismatch in Form 26AS

In case of a mismatch, get the diductor to rectify and file a revised TDS return. This is important because the tax

4
department goes by what is stated in your Form 26AS. Once the return is filed, the tax department's system
reconciles the tax paid details submitted in the return form with the amounts appearing in the corresponding Form
26AS of the tax payer.

Ensure that transactions mentioned in Form 26AS have been reported in your return. If there is a 10% TDS
on interest from a fixed deposit, the full interest should be reported in your return. If you switched jobs
during the year, you might have got double exemption and deduction. Report both incomes and pay tax
accordingly.

Add up income from other sources

Apart from salary, taxpayers also have income from other sources. Add up all interest earned on fixed and
recurring deposits, infrastructure bonds, NSCs, Kisan Vikas Patras and savings bank account. Even if TDS
has been deducted on FDs, you might need to pay more tax if you are in the 20-30% tax bracket (income of
over `5 lakh a year).

Do not forget gifts

Do not forget the clubbing of income provision. Any `gift' transferred to close relatives is not taxable.
However, any income arising from that asset is fully taxable in the hands of the transferor. If you invest the
gifted money, Section 64 kicks in and the interest or profit earned gets added to your income.

Include foreign assets

The tax department is looking closely at accounts and assets held outside India. ITR-2 seeks foreign bank
account's holding status (both as an owner and beneficiary), account opening date, interest accrued during
the year and schedule and fields number under which the income is reported.

Calculating capital gains

If you sold any mutual funds, stocks, property or gold during the year and made a profit, report the gains in
your tax return. Some of these gains will not attract any tax but others might. E-filing portals have in-built
calculators that tell you how much you have to pay.

Reporting rental income

The new forms have also segregated the columns for `deemed-to-be-let-out' and `let-out' status of your
property. You are liable to pay tax even if you have not earned any income from it or if it is unoccupied.

Claim the deductions

4
Most taxpayers are familiar with deductions under Section 80C and Section 80D. But

4
there are several other deductions. Choose an e-filing portal that guides you well on all these deductions. If
it does not ask you to fill in too many details, the portal may be denying you the chance to claim these
deductions.

Choose the right mode

Online tax filing is not only easy but also mandatory for certain taxpayers. If your income is more than `5
lakh a year and includes foreign income, then you have to e-file your tax return. Even if the income is
below
`5 lakh but you are claiming a refund, e-filing is compulsory. E-filing not only ensures your ITR is error-
free, it is more reliable. The e-filing portal will choose the appropriate form and calculate the correct tax
liability for the current year. What's more, e-filed tax returns get processed faster and refunds reach you
faster.

Verify your tax return

The procedure does not end with uploading your return. You need to verify it also. Till last year, if you did
not have a digital signature, you had to send a copy of the ITR V to the Central Processing Centre in
Bengaluru. From this year, the tax department has introduced the facility of electronic verification code
(EVC) which will make the procedure completely paperless. The option of sending the ITR V by post to
Bengaluru is still open. The ITR V must reach the CPC within 120 days of filing.

FILING OF ITR RETURNS

Follow the steps mentioned below to e-file your income tax returns using the Income tax e filing portal:

Step 1: Visit the official Income Tax e-filing website and Click on the ‘Login’ button.

4
Step 2: Next, Enter Username then Click continue and after enter your Password.

Step 3: Once you have logged into the portal, click on the tab ‘e-file’ and then click on ‘File Income Tax Return’.

Step 4: Select the Assessment year for which you wish to file your income tax returns and click on ‘Continue’.

4
Step 5: You will then be asked whether you wish to file your returns online or offline. In this case you need to choose
the former which is also the recommended mode of tax filing.

Step 6: Choose whether you wish to file your income tax returns as an individual, Hindu Undivided Family (HUF),
or others. Choose the option ‘individual’.

Step 7: Choose the income tax returns (ITR) you wish to file. For example, ITR 2 can be filed by individuals and
HUFs who don’t have income from business or profession. Similarly, in case of an individual, they can choose the
option ITR1 or ITR4. Here you will have to click ‘Proceed with ITR1’.

4
Step 8: The next step will ask you the reason for filing your returns above the basic exempted limit or because of the
seventh provision under Section 139(1). According to the section, if the aggregate amount deposited by an individual
exceeds Rs.1 crore in one or more current accounts during the year, exceeds Rs.2 lakh on a foreign trip, or if a
payment of more than Rs.1 lakh is paid on electricity bills, then the person can file their income tax returns. Make
sure you choose the right option.

Step 9: Fill in the details of your bank account. If you have already provided the details of your bank account, then
pre-validate it.

4
Step 10: You will then be directed to a new page to file your income tax returns. The page will contain a lot of
information filled already. Check them make sure all the details mentioned are correct. Confirm the summary of your
returns and validate it.

Step 11: The final step is to verify your returns and send a hard copy of if to the Income Tax Department. The
verification process is mandatory.

The step-by-step procedure to file returns offline is mentioned below:

1. Individuals must request for a Form 16.
2. Next, you will need to submit the ITR returns in the paper form at the Income Tax Department.
3. Once the form has been submitted, you will receive an acknowledgement slip from the Income Tax
Department.

VARIOUS INCOME TAX SLABS ARE-

4
 5.5FILING OF TDS RETURNS
TDS Return is a quarterly statement submitted by the diductor to the Income Tax Department. The
statement shows a summary of all the entries for TDS collected by the diductor and the TDS paid by the
diductor to the Income Tax Authority.

How to get return of TDS amount

First is to declare it in your IT return form and the income tax department will automatically compute the
refund and credit it to your bank account. Second way is to fill form 15G and submit it in your bank telling
them that your salary is below tax slab and hence no tax should be levied on it.

Eligibility for filing TDS

Employers and organizations with a valid TAN are qualified for filing TDS returns. Individuals whose
accounts are audited under Section 44AB, and hold an office under the government or companies are liable
to file online TDS return every quarter.

The TDS rates to be applicable on income for the current year is updated in the TDS rates chart. TDS
stands for Tax Deducted at Source.
The TDS statements can be uploaded using DSC. To upload using DSC, first upload the TDS zip file and
also attach the digital signature file. Then, click on Upload. Once the TDS statement is uploaded, a success
message will appear on the screen and a confirmation mail will be sent to your registered email ID.

Steps for filing TDS returns

Step-1

Visit the website of the Income Tax PAN Services Unit athttp://tin.tin.nsdl.com/pan/index.htmlor
https://www.utiitsl.com/UTIITSL_SITE

Step-2

To apply for a new PAN, Form 49A or Form 49AA can be used. Fill in the details and submit the form online.
After the form is submitted online successfully, an acknowledgement bearing unique acknowledgement /
coupon number is displayed. This acknowledgement need to be saved and printed for further process.

5
Step-3

The acknowledgement form needs to be sent to PAN service provider. Before sending this, you will need to
attach proof of identity, proof of address and proof of date of birth document along with the acknowledgment
form. Your name which is mentioned in these documents, should be the same as that is being asked in the PAN
application form. Please take care of this at the time of filling in PAN application form.

Step-4

You must affix two recent colored photographs on the acknowledgment form at the designated space.
Signatures must be made at indicated place. The photograph should be recent &clear, as same would be printed
on your PAN card.

Step-5

PAN application fee is Rs.105 (including taxes) for communication address within India. The payment can be
made by - cheque, Demand Draft, internet banking, credit card or debit card. If the communication address is
outside India, then PAN fee is Rs. 971(including taxes), payable by demand draft, credit card or debit card (for
NSDL) and by demand draft or credit card (for UTIITSL). In case payment is by internet banking or by credit
card or by debit card, then the payment need to be made at the time of filling in PAN application form, after
which payment receipt will be given. Please take a print of this payment receipt and attach the same with
acknowledgement form.

The duly signed acknowledgement form must be accompanied by photographs, proof of identity, proof of
address, proof of date of birth documents and the payment/payment proof as the case may be. This need to be
sent to PAN service provider within 15 days of online PAN application date. The envelope need to be
subscribed with the words 'APPLICATION FOR PAN - Acknowledgement / Coupon Number '.
The applications are processed by PAN service provider after realisation of payment.

5
CHAPTER 6
SUMMARY AND CONCLUSION

5
 SUMMARY OF WORK DONE

The internship began with MEHRA AND ASSOCIATES in February 2022 and had the
absolute pleasure to be included as a member of their team until the end of July 2022.I
found motivation in my daily commutes through an incredible work environment. The
employees were immensely friendly, supporting, customer-service oriented, caring, and
honest.

The present study aims to explore the perception of the people towards GST
implementation. The study is based on a sample of 50 respondents.

The findings of the study are summarized as follows-

 Recording vouchers in Tally software

 Filing GST returns
 Working on Income Tax portal and Filing Income Tax returns
 Working on genius software for TDS challans and returns

The six-month internship was an opportunity to prove myself as a reputable employee, a

reliable coworker, and a motivated student.

SUGGESTIONS AND RECOMMENDATIONS

Though the organization is good at everything and everything is well maintained and
managed. But still there are some chances of improvement whether it is a human being or any
organization till there are improvements and chances to develop and grow, the organization
must improve itself at its best. In my opinion some of the suggestion/recommendations are:

 Most of the computers and laptops in the firm on which the work was done were old and
because of that we were unable to carry out our tasks properly. The organization must
have proper systems so that the work load can be handled efficiently.
 The firm should try to adopt new technologies that their competitors are not using.
 The firm should make a network that allows its customers to negotiate with them easily.
 The local economy continues to be strong and we believe our typical clients will continue
to flourish.

5
 The employees are provided less salary than the government has asked to provide in
minimum wage act, therefore the employees must be provided at least the minimum
salary.
 It is 6 days working in the organization; most of the organizations are using 5 days
working schedules so that employees don’t feel exhausted and their efficiency increases.
So, the organization must provide at least one-day leave to the employees to rest and
freshen up.
 The trainees are not offered extra financial or any other incentive for the extra work or
over time. This causes some sort of abstractions which immediately need to be overcome
by the management.

5
 ANNEXURES
QUESTIONNAIRE

Some basic questions based in the knowledge gathered during Internship

Q1. The implementation of GST has facilitated ease of doing business.

A. Yes
B. No Change
C. Can't say
D. No

Q2. The ST impact on multi-state organization dealing in goods

A. Positive impact

B. No impact

C. Can't say
D. Negative impact
Q3. The GST impact on multi-state organization dealing in services
A. Positive impact

B. No impact

C. Can't say

D. Negative impact

Q4. The implementation of GST has facilitated seamless flow of credit

A. Yes

B. No Change

C. Can't say

D. No

Q5. The implementation of GST has reduced tax evasion

A. Yes

B. No Change

C. Can't say
D. No
Q6. The impact of GST on cascading (Tax on Tax)
A. Positive impact

5
 B. No impact

C. Can't say
Q7. The implementation of GST has reduced cost of claiming refund
A. Yes

B. No Change

C. Can't say
D. No
Q8. The time required in preparation for filing returns has been reduced
A. Yes

B. No Change

C. Can't say
D. No
Q9. The implementation of GST has reduced paperwork for return
A. Yes

B. No Change

C. Can't say

D. No

Q10 Is the income tax portal easy to work upon?

A. Yes
B. No
Q11 Are you aware of the turnover limit necessary to get the tax audit
done A Yes

B No

Q12 Is Tally Software easy to operate?

A. Yes
B. No

5
 REFERENCES
 https://www.icai.org
 https://cleartax.in/s/gst-returns
 https://en.wikipedia.org/wiki/Income_tax_return_(India)
 https://www.paisabazaar.com/pan-card/how-to-apply-online-for-pan-card/
 https://tallysolutions.com/tally/accounting-vouchers-in-tally-erp-9/
 https://caportal.saginfotech.com/
 https://www.incometax.gov.in/iec/foportal/

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