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Your licensing activities are just so simple. Activate your new license, reactivate your existing license, or update your license info with the click of a button, right from the Manage License screen.
https://help.tallysolutions.com/docs/te9rel60/Licensing/upgrade.htm

Upgrading to the Latest Tally.ERP 9 Release

Upgrading to the latest release of Tally.ERP 9 allows you to enjoy the new features introduced in the product. It also helps prevent compatibility issues with the latest statutory forms.

You must have a valid Tally Software Services (TSS) subscription to upgrade to the latest release.

To upgrade to the latest Tally.ERP 9 release

1.    Go to Tally.ERP 9 installation folder in your computer.

2.    Double-click the Setup.exe icon.

3.    Click Upgrade in the Tally.ERP 9 Installer, as shown below:

A message with the details of the latest release, if available, is displayed.

4.    Click Upgrade to upgrade to the latest release.

See also

Renewing Your Tally Software Service subscription

Reactivating Tally.ERP 9

How to upgrade from Release 5.0 to 5.X?

Licensing - FAQ