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In this video tutorial, viewers learn how to delete a company in Tally using two methods. For Method 1, after opening Tally and entering the vault password and user credentials, users can access Company Info by clicking it or pressing Alt+F3. Next, they select the company to delete, press Alt+D, and confirm the deletion via popup messages. For Method 2, users click on Configure (F12), then double-click on Data Configuration to locate data files. They can identify which folder is linked to the company they wish to delete and proceed with deletion. Users are reminded that they can create another company as needed.