Internship Details.

NAME OF THE
INTERN : VIGNESH. Y.S

DEPARTMENT : 06-CO-422.
NUMBER

YEAR OF STUDY : IIIrd Year, 6th Semester.

SPECIALIZATION : Finance stream, INCOME TAX.

PROJECT GUIDE : Prof. Prassanna Kumar.

INTERNSHIP OFFICE: M.J. Munoth & Co.;

(Chartered Accountant)

WORK GUIDE : Sunil Kumar.R

WORK HOURS : 10:00am – 5:30pm.

TENURE : December 22, 08 – January 18, 09.

 CONTENTS

PART A
1] Copy of the acceptance letter;
2] Copy of the Training Completion Certificate;
3] Acknowledgement by the students.

PART B
1] Profile of the COMPANY;
2] Profile of the work guide;
3] Assessment of Individuals, Firms, & Company;
4] INCOME TAX PROVISIONS:-
(a). Filing of Returns & Forms of returns;
(b). Payment of Advance Tax, TDS & Tax rates for different persons.
5] Limitations of Internship & Suggestions to improve the program.

PART C
BIBLIOGRAPHY.

PART D

1] ANNEXURES:-
(a).Copy of Daily Work report.
(b).Forms (filled in pencil).
 ACKNOWLEDGEMENT

I hereby take this wonderful opportunity to thank first and

foremost LOYOLA COLLEGE for including this internship
scheme in our curriculum making it the best in the whole
country.

Secondly, I solemnly thank all the Professors without whom

the internship process would have not been a reality. Their
effort in briefing the internship process and clarifying
innumerous doubts without hesitation was promising, which in
fact resulted in a boosted morale towards this process, helping
us, the students, to make use of this beautiful opportunity and
mint everything possible intellectually.

Thirdly, I would like to thank specifically, my project guide

Prof. Prassanna kumar, who made a strong statement with his
actions with respect to the title he holds in this specific
internship process, without whom, our project report wouldn’t
have happened.

Last but not least, my sincere thanks to Mr. M.J. Munoth,

Chartered Accountant, and his excellent team of staff who had
readily admitted me in their well reputed organization for this
internship program and also, trained me in almost all aspects
of Direct Taxes, and thereby helped me to enhance my
knowledge base. They have also imparted the practical
knowledge and hands on experience required to handle the
income tax assessment process of a company, individual & a
firm, and eventually enabling me to have a competitive edge
over the subject.
 Profile of the ORGANISATION

This esteemed Auditors’ office situated in the midst of broadway is the best,
one can seemingly approach to get their company’s Financial records
certified/audited as per the law within a reasonable time along with quality
in the result due to cutting edge technology being implemented.
 Limitations of the Internship program

1) One company, One person rule is a major drawback of this

program. Not everyone can get their hands on the BIG reputed
organizations and even though their luck works outs, they have to
forgo it since already a student has been given the opportunity.
(personal experience)
2) Internship Program Period. The period been given to us for
interning is from December 22nd 2008 to January 18th 2009. This
period has the most number of holidays any office can possibly
with respect to Christmas, New years, and also the PONGAL
holidays. The days are already numbered but this eventually cuts
it down even further.
3)