INTERNSHIP REPORT ON

C. DHARMALINGAM & CO.,

TAMBARAM
Submitted to the University of Madras
In partial fulfilment of the requirements for the award of the degree of the
BACHELOR OF COMMERCE
(ACCOUNTING AND FINANCE)
BY
G. PREETHI
(Reg. No. 312210564)
Under the guidance of
Dr.V.NAVANEETHA KANNAN
M.Com.,M.Phil.,MBA,Ph.D.,NET,
Head, Department of Commerce (A&F)

DEPARTMENT OF COMMERCE
(ACCOUNTING AND FINANCE)
SRM ARTS AND SCIENCE COLLEGE
[Affiliated to the University of Madras]
(Accredited with A+ by NAAC & An ISO 9001:2015 Certified Institutions)
Kattakulathur, Chengalpattu District- 603 203.

JULY – 2024

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 CERTIFICATE

This is to certify that this internship report on C. DHARMALINGAM & CO

TAMBARAM , a work done by G.PREETHI (Reg.No.312210564) a final year student of
Bachelor of Commerce (Accounting and Finance), SRM Arts and Science College,
Kattakulathur - 603 203, in partial fulfilment of the requirements for the award of the degree
of the Bachelor of Commerce (Accounting and Finance), University of Madras for the
academic year 2024-2025.

PROJECT REPORT SUPERVISOR HEAD OF THE DEPARTMENT

PRINCIPAL

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 DECLARATION

I hereby declare that the internship report on C. DHARMALINGAM & CO.

TAMBARAM, submitted by me, for the award of the degree of Bachelor of Commerce
(Accounting and Finance) in the University of Madras, has been carried out by me under the
guidance and supervision of Dr.V.NAVANEETHA KANNAN, Head, Department of
Commerce (Accounting and Finance) SRM Arts and Science College, Kattakulathur – 603
203.
The internship report has not been submitted for the award of any other Degree,
Diplomas and Articles in the University of Madras or any other universities.

Place: Kattankulathur NAME

Date:

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 ACKNOWLEDGEMENT

I hereby wish to express my heartfelt gratitude to Dr. R. VASUDEVARAJ,

Principal, SRM Arts and Science College for his encouragement and help throughout the
course.

I express my deep sense of gratitude and sincere thanks to Dr.V.Navaneetha

kannan, Head, Department of Commerce (Accounting and Finance), SRM Arts and
Science College for constant motivation and valuable guidance.

I am also very thankful to my beloved guide Dr.V.NAVANEETHA KANNAN,

Head, Department of Commerce (A&F), for his valuable guidance in helping me to do the
internship report with interest and also showed kind and care.

In the same way I also thank our Department Staff members for advising me during
the project and make me to do this internship report with good perfection.

I would like to thank the organization staff N.RAJA, B.COM, IN

C.DHARMALINGAM AUDITOR for mentoring the internship.

Finally, I wish to thank my parents for their support and encouragement throughout
my career and future endeavor.

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 TABLE OF CONTENT

CHAPTER NO CONTENT PAGE NO.

1 INTRODUCTION 7 – 10

2 COMPANY PROFILE 11 - 15

3 LEARNING OUTCOME 16 - 20

4 CONCLUSION 21 - 23

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CHAPTER – 1
INTRODUCTION

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 CHAPTER - 1
INTRODUTION

WHAT IS INTERSHIP?

An internship is a temporary position offered by an organization to

students or recent graduates to gain practical experience in a particular field or
industry. Internships can be paid or unpaid and can vary in duration, typically
lasting from a few weeks to months

AUDITOR

An auditor is a person authorized to review and verify the accuracy

of financial records and ensure that companies comply with tax laws . The main
duty of an auditor is to determine whether financial statements follow generally
accepted accounting principles (GAAP).

GST (GOODS AND SERVICE TAX) :

The Goods and Services Tax has revolutionized the Indian

taxation system. The GST Act was passed in the Lok Sabha on 29th March,
2017, and came into effect from 1st July, 2017.Goods & Services Tax Law in
India is a comprehensive, multi-stage, destination-based tax that will be levied
on every value addition.

In simple words, GST is an indirect tax levied on the supply of goods and
services. GST Law has replaced many indirect tax laws that previously existed
in India.

Goods and Services Tax, is a comprehensive indirect tax levied on the

manufacture, sale, and consumption of goods and services. It is designed to be a
single tax on the supply of goods and services, right from the manufacturer to
the consumer.

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So, before Goods and Service Tax, the pattern of tax levy was
as follows

Under the GST regime, tax will be levied at every point of sale.
Now let us try to understand “GST is a comprehensive, multi-stage,
destination-based tax that will be levied on every value addition.”

MULTI – STAGE

There are multiple change-of-hands an item goes through along its supply chain
from manufacture to final sale to consumer .
Let us consider the following case:

➢ Purchase of raw materials

➢ Production or manufacture

➢ Warehousing of finished goods

➢ Sale of the product to the retailer

➢ Sale to the end consumer

Goods and Services Tax will be levied on each of these stages, which makes it a
multi-stage tax.

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HISTORY OF GST IN INDIA

2000
The idea of GST was first proposed by the Atal Bihari Vajpayee
government. A committee headed by the then West Bengal Finance Minister,
Asim Dasgupta, was set up to design a GST model for the country.

2004
The task force under Vijay Kelkar, advisor to the Ministry of Finance,
recommended a comprehensive GST based on VAT principles.

2006
The then Union Finance Minister, P. Chidambaram, proposed the
introduction of GST in his budget speech, setting April 1, 2010, as the target
date for its implementation.

2009
The Empowered Committee of State Finance Ministers released the First
Discussion Paper on GST, outlining the proposed structure and implementation
framework.

2011
The Constitution (115th Amendment) Bill, 2011, was introduced in the
Lok Sabha to enable the introduction of GST. However, it lapsed with the
dissolution of the 15th Lok Sabha.

2014
The Constitution (122nd Amendment) Bill was introduced in the Lok
Sabha by the Narendra Modi government.

2015 - The GST Bill was passed by the Lok Sabha in May but faced resistance
in the Rajya Sabha, leading to the formation of a Select Committee to review
the bill.

2016
- August 3: The GST Bill was passed by the Rajya Sabha.
- August 8: The Lok Sabha approved the amendments made by the Rajya
Sabha.
- September 8: The President of India gave his assent to the bill, and it
became the Constitution (101st Amendment) Act, 2016.
- September 12: The GST Council was constituted, with the Union
Finance Minister as the Chairperson and State Finance Ministers as members.

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2017
- March: The GST Council approved the final draft of the Central GST
(CGST), Integrated GST (IGST), Union Territory GST (UTGST), and
Compensation to States Bills.
- April: The bills were passed by the Lok Sabha and subsequently by the
Rajya Sabha.
- May: The GST Council finalized the tax rates for different goods and
services.
- June 30 - July 1: GST was officially launched at midnight in a historic
session of the Indian Parliament.

2017-2018
The GST Council held several meetings to address issues related to
rates, compliance, and technical glitches in the GST Network (GSTN) portal.
Various amendments and notifications were issued to simplify the processes and
ease the transition for businesses.

2019
Introduction of the new GST return filing system and other compliance
measures to further streamline the GST regime.

2020-2021
Continuous efforts to simplify GST compliance, including the
introduction of e-invoicing and improvements in the GSTN portal.

ADVANTAGES OF GST

➢ Removing cascading tax effect

➢ Higher threshold for registration

➢ Composition scheme for small businesses

➢ Online simpler procedure under GST

➢ Lesser compliance

➢ Defined treatment for e-commerce

➢ Increased efficiency in logistics

➢ Regulating the unorganized sector

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 CHAPTER – 2
COMPANY PROFILE

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 CHAPTER -2

COMPANY PROFILE

The internship report was made after having internship with auditing
company from 29th April 2024 to 14th may 2024 . This chapter contains the
following background of internship ; background of organization ; mission ; and
other activities carried out by organization.

INTRODUCTION TO C.DHARMALINGAM & CO.,

This report is a short description of my fifteen days internship carried out as per
UGC Norms prescribed for B.Com Course. The said internship of mine was
with C. Dharmalingam & Co., (Chartered Accountants) in various fields such as
Accounting & Auditing.

I myself try to correlate theoretical knowledge acquired with real life scenarios
in the form of internship during this fifteen days

To describe in my own terms internship is an opportunity to;

1. Enhance specific skills to strive in this competent society,

2. Acknowledge real life practice in work place,
3. Learn how to adapt, transform and survive,
4. Assess our own strength and weakness to tackle with outside world etc.

The above points are not conclusive to define the word internship.

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VISION OF ORGANIZATION

The profession of chartered accountants should be benchmark of professional

excellence upholding the principles of integrity, transparency and accountability

MISSION OF ORGANIZATION

Is to achieve excellence in professional competence , add value to businesses

and economy , safeguard public interest; ensure ethical practices and good
corporate governance while recognizing the needs of globalization.

WE BELIEVE IN

Offering proactive services and delivering effective , reliable dependable advice

maintaining the highest level of confidentiality & integrity . delivering results
within time frame maintaining the highest level of accuracy .

CORPORATE SERVICE

❖ Incorporation of company
❖ Consultancy on company law matters
❖ Planning for mergers , acquisitions , de-mergers , and corporate
re-organization
❖ Filling of annual returns and various forms , documents.
❖ Clause 49 review for compliance with fiscal , corporate and tax laws
❖ Secretarial matters including share transfers
❖ Maintenance of statutory records
❖ Consultancy on public / rights / bonus issue of shares
❖ Change of name , objectives , registered office, etc .

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INDIRECT TAX SERVICE:

❖ GST Registration Services.

❖ Preparation of return Of GST.
❖ Tax Planning Strategy – Optimum Use of Corporate Tax Incentives.
❖ Implementing and operating in the tax Consolidation regime.
❖ Advising the clients On the applicability of GST
❖ Determine GST liability on monthly/ quarterly/ annually basis as may
be applicable.
❖ Training the clients Personnel on the various Aspects of the Tax.
❖ Opinions & Certification under Indirect Taxation.

AUDIT

Audit involves the following:

• In – depth study of existing systems, procedures and controls for

proper understanding , suggestion for improvement and
strengthening.
• Ensuring compliance with policies , procedures and statutes.
• Comprehensive review to ensure that the accounts are prepared in
accordance with Generally Accepted Accounting Policies and
applicable Accounting Standards/IFRS
• Checking the genuineness of the expenses booked in accounts
• Reporting inefficiencies at any operational level
• Detection and prevention of leakages of income and suggesting
corrective measures to prevent recurrence

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 • Certification of the books of account being in agreement with the
balance sheet and profit and loss account
• Issue of audit reports under various law

TYPES OF AUDIT CONDUCTED

✓ Statutory audit of companies

✓ Tax audit under section 44AB of the income tax act 1961
✓ Audit under other section of the income tax act , 1961 such as
80HHC , 80-IA , etc.
✓ Concurrent audits
✓ Revenue audit of bank
✓ Branch audit of bank
✓ Audit of PF trusts , charitable trusts , schools, etc.
✓ Audit of co-operative societies
✓ Information system audit
✓ Internal audits

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 CHAPTER - 3
LEARNING OUTCOMES

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 CHAPTER – 3

INTRODUCTION

I choose to work with C. DHARMALINGAM & CO . During this internship I

have learnt many new skills . Before internship I have only theoretical
knowledge about work in organization but now I have practical some practical
experience of working in organization work and achieve their goals and
objectives

This internship has to give me the understanding of business and also the
elements of strategic thinking , planning and implementation and how these
things are applied in a real world organization . Following are the objectives
that I have in mind before working as an internee

• To improve communication skill

• To analyze the business situation
• To establish high standard in professionalism
• To learn more than the theoretical knowledge
• To learn book keeping practices of different companies
• To apply the theoretical knowledge in actual organization
• To plan for the future of oneself and learn how to adjust in an
organization
• To make quick decision in real situation
• To learn how to promote and to conduct research in business area

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 I have tried my best to enhance my abilities and apply the knowledge that I
gained during the studies . on my first day at firm , N. Raja gave me training
session about TDS returns and computerized accounting in tally software and
he also shared his practical experience with me and gave me some techniques of
this process. He also guided me that how to prepare VAT return and creating
data in income tax return preparation software

Different task that I performed during my internship :

1. Maintenance of accounts/ book keeping

2. TDS return preparation
3. VAT returns preparation .

Software used during internship :

• Compuoffice
• Tally software

Compuoffice online software :

Tax solution for professionals to provide end-end management
of every stage of the tax life cycle – from provision to estimates and extension ,
returns , audit , amendment and planning .
SOLUTION : Income tax return , TDS return , service tax return , balance
sheet & audit report , VAT return , checking of assessment order , ROC form
and filling , challan , all other required forms , standard letters to clients etc.,

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I ACQUIRED KNOWLEDGE OF DOING THE FOLLOWING:

➢ I have gained knowledge on how to calculate TDS, provident fund, loss of

days, paid leaves, ESI, deduction of advances.
➢ I have learned how to register data’s in FCRA (foreign contribution
regulation ACT).
➢ I have learned how to internal check (audit) the statement of accounts or
financial records of various companies.
➢ I have gained knowledge on how Accounts operations are carried out in a
profitmaking company. Additionally I have gained immense knowledge on
the acceptable code of conduct and dressing code in an office environment in
order to be presentable and not to offend any colleagues.
➢ I have acquired knowledge about quotations, bills, delivery note, cheques,
monthly statements, advance payments, GST calculations, sales register,
purchase register, credit notes, and debit note.

MY DUTIES AND RESPONSIBILITY DURING INTERNSHIP :

❖ My key duty during my internship is to internal check (Audit) the financial

records and financial statements of different types of companies.
❖ I assist in auditing the salary bills prepared by the companies by reviewing
the calculation of basics pay, loss of days, advance payments, TDS,
provident funds, paid leaves, ESI.
❖ I also audit the company sales register by cross checking the sales bills.
❖ I also reviewed the purchase prices of the materials using spreadsheets.
❖ I reviewed GST rates calculations.
❖ I also audit the company financial records like purchase register, credit note,
sales register, bank statements, monthly statements. I perform day-to-day
audit work for all audit phase in accordance with GAAS.

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❖ I reviewed corporate records such as tax returns, bank statements, and
financial reports for inaccuracies or irregularities.

SKILLS I LEARNED :

• During my internship, I learned how to communicate and build

relationships with the people I worked with. I learned how to introduce
myself, talk about my interests, knowledge and skills with entrepreneurs
and business owners, as well as how to ask questions and gain a better
understanding of businesses not only in the co-working space, but also
others in the market.

• This process overall helped me develop my professional network and

emphasized the importance of creating these connections. I also
connected with most of them via LinkedIn, which is obviously a great
networking platform for professional

• I improved my ability to analyze financial data and identify key insights,

which is essential in decision making.

• I understand various GAAP (Generally Accepted accounting principles)

in order to ensure that a company’s records are accurate and complete

• I learned how to conduct internal audits, which involve evaluating a

company’s compliance with its own policies..

• I encountered various challenges during my internship, which allowed me

to develop my problem solving skills and think critically to find solutions.

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CHAPTER – 4
CONCLUSION

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 CHAPTER – 4

SUGGESTIONS TO THE FIRM :

❖ Try to adopt new technologies that their competitors are not using

❖ The infrastructure and working condition review can improve the

working efficiency of the trainees . Audit and Assurance is the tough job .
some motivational meeting and mentoring exercise would bring good feel
among employees for their work . Time to time financial bonuses or
performance incentives will energize the staff

❖ The trainees are not offered extra financial or any other incentive for the
extra work or over time. This causes some sort of mental stings which
immediately needs to be overcome by the management. The firm, to be
more competitive in days to come, still has room for improvement in
Information Technology. As firm don't have any of its website to attract
customer and their timely feedback as most of the good firms have their
own web and well organized.

CONCLUSION :

➢ DHARMALINGAM & Co is overall one of the profit making and

reputed firm of Etah. The organization since its very first day is devoted
to providing quality services. The detailed and through review of work
and clients' trust shows the perfection with which it is working.

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➢ The firm has earned a distinction of being placed in the category 'A' in the
list of panel of auditors maintained by State Bank of India . Moreover
only these "A" category firms can audit of listed companies.

➢ The Institute of Chartered Accountants of India has also carried out the
Quality Control Review and has issued satisfactory QCR report stating
that the firm has conducted the audits of the clients in accordance with
International Standards on Auditing.

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