Is there any software that does the version controlling of a module locally. Without actually using the internet can we just have a setup of all the versions of software internally. Please recommend one.
Git SCM is a great choice. You can use it on a single machine like your own PC or laptop. You can also set up a Git server in your Intranet, so you can still have a team working on a software. It's free to use even for commercial use.
There are the Git Extensions, which integrate into Windows Explorer. Depending on the IDE you use, it may even have Git support built in (e.g. Visual Studio or Pycharm).
Subversion is very popular. I have been using it for decades at work.
I also use it at home, on a single laptop (using XAMPP on Windows to get an Apache server).
The Tortoise SVN GUI makes it simple to use, although the command line is not difficult to learn.
Subversion is stable, popular and well documented & supported (more than 116 thousand questions and answers on Stack Overflow alone)