Goods and services tax & Tally Internship Report

Education

1. Summer Internship Presentation Name of Guide : Dr. Prayank Name of Student : Saloni Dobhal Sharma Course: B.Com ( Hons .) Semester : V SWAMI RAMA HIMALAYAN UNIVERSITY, JOLLY GRANT DEHRADUN HIMALAYAN SCHOOL OF MANAGEMENT STUDIES HSMS

2. Organization Details Name: GAURAV WASON & COMPANY Address: First floor, near Nainital Bank, Rishikesh Road, Doiwala , Dehradun - 248140 ( Uttarakhand ) Name of Mentor(In the Organization ): FCA GAURAV WASON

3. Organization Details Designation : FELLOW CHARTERED ACCOUNTANT Mobile Number: 0135-2695500 Email – id: [email protected]

4. History: Gaurav Wason & Company was established to follow ICAI's standards and is known for its professionalism, integrity, and ethical practices. Mission : Provide accurate, timely, and ethical financial services to help clients achieve their goals. Vision : Be a trusted leader in chartered accountancy, known for expertise, innovation, and client success. Profile of the Organization

5. Verticals: Taxation Services : ITR filing, GST compliance, and TDS management. Auditing : Statutory, internal, and tax audits. Business Consultancy : Market strategy, financial planning, and process improvement. Financial Management : Bookkeeping, reporting, and loan consultancy. Compliance : Company law, regulatory filings, and risk management. Profile of the Organization

6. Organization Structure: Board of Directors Profile of the Organization

7. Description of functional area of your Summer Internship/Objectives The key activities and responsibilities in this functional area included: Accounting & Bookkeeping : Managed transactions, maintained records, and assisted with trial balances and reconciliations. Tax Compliance : Filed GST returns, assisted with ITR filings, and ensured timely TDS compliance. Financial Reporting : Assisted in preparing financial statements and analyzing reports for client presentation. Tech-Driven Insights : Used Excel for financial modeling, data analysis, and automation to enhance accuracy and efficiency.

8. Description of functional area of your Summer Internship/Objectives Objectives of My Summer Internship: Skill Development : Enhance practical knowledge of Tally, Excel, and their application in financial tasks Taxation Expertise : Understand GST filings, TDS compliance, and Income Tax Return processes Practical Application : Apply accounting and taxation knowledge to real client cases Financial Analysis : Assist in analyzing financial statements for actionable insights Compliance Awareness : Learn and adhere to legal and regulatory requirements Professional Growth : Develop workplace discipline, time management, and teamwork Organizational Contribution : Maintain accurate records, ensure timely filings, and support client obligations

9. Description of work assigned to you in the organization Excel Data Management : Compiling and organizing financial data into well-structured Excel sheets. Utilizing advanced Excel functions to analyze and present data effectively. Tally Operations : Recording day-to-day transactions in Tally. Assisting in the preparation of financial statements using Tally software. GST Filing : Supporting the team in filing GST returns, ensuring compliance with tax regulations. Maintaining detailed records of tax filings for client accounts.

10. During my internship at Gaurav Wason & Company, I gained several important skills from the tasks I was assigned: Excel Skills : Gained proficiency in managing large datasets, creating financial reports, and using advanced functions like pivot tables and VLOOKUP Tally Knowledge : Learned to set up ledgers, record transactions, and generate financial statements for business insights GST Knowledge : Gained experience in accurate GST billing and timely online return filing Attention to Detail : Developed precision and reliability in task execution Time Management : Improved multitasking and deadline management skills Learnings from the assignments given to you in the organization

11. Advanced Excel Proficiency : Skilled in VLOOKUP, pivot tables, and conditional formatting Tally Expertise : Hands-on experience in transaction recording and financial reporting Tax Compliance : Knowledge of GST filing, data accuracy, and timely submissions Data Management : Ensured error-free record-keeping and efficient organization Problem-Solving : Resolved financial discrepancies with analytical insights Professional Communication : Clear and concise delivery of financial insights and compliance updates Operational Learning from the assignments given to you in the organization

12. Description of Various formats related to your functional area in the organization Client details format:-

13. Description of Various formats related to your functional area in the organization ( i.e sales reports, payroll, accounting formats ) Sales bill format used:-

14. Client Confidentiality: Ensure strict privacy and secure data management to protect client information. Client Communication: Maintain clear, transparent, and timely communication to address client needs. Documentation: Keep organized, accurate records for accountability and traceability. Continuous Learning: Promote ongoing professional development and stay updated on tax laws and accounting standards. Timely Deliverables: Complete and submit client work, such as tax filings and reports, on time to avoid penalties and build trust. Mention Five Best Practices which you have observed in the Organization

15. Conclusion/Findings I completed my internship with CA Gaurav Wason & Co. on August 24, 2024. During this time, I gained hands-on experience in tasks like creating bills in Excel and filing GST returns, bridging the gap between theory and practice. Under CA Gaurav Wason’s mentorship, I improved my Excel skills and deepened my understanding of GST compliance. Collaborating with Prachi Saini taught me the value of teamwork. This internship gave me valuable insights into the professional world of a CA, boosted my confidence, and helped shape my career goals.

16. Thanks You