Income Tax Ready Reckoner 4.91

India's Income Tax Act offers numerous deductions, exemptions, various methods of tax computation, time limitations for taxpayers and assessing officers, as well as forms for applications under different provisions. As a result, staying informed about important dates, provisions, and forms can be a challenging experience for both taxpayers and their advisors such as chartered accountants and tax lawyers.

The development of an Income Tax Ready Reckoner mobile app has been conceptualized by Prashant Thakur, a former employee of the income tax department who transitioned to practicing through his website taxworry.com. The app encompasses various modules:

1. Fresh Tax Solution from taxworry.com
2. Over 12 tax calculators covering topics like HRA exemption, house property income, perquisite exemptions, long-term capital gains, gratuity exemption, tax residency, agricultural land calculations, leave encashment exemptions, and retrenchment compensation tax exemptions
3. Frequently Asked Questions (FAQ) module addressing salary, house property, capital gains, business & profession, filing returns, withholding tax (TDS), appeals before CIT(A), Tribunal, High Court, AAR
4. Tax charts for quick reference to rules, forms, time limitations, including share prices as of 01/04/1981, exemptions, deductions, penalties under the Income Tax Act
5. Quizzes aligned with the syllabus of Chartered Accountancy, Company Secretaryship, and Cost Management Accountancy courses to aid students in revising direct tax topics
6. Video resources on YouTube explaining various issues under the Income Tax Act
7. Access to AO codes or IFSC/MICR codes of multiple banks for general users within the app
8. A searchable telephone directory of tax authorities for tax professionals within the app
9. User interaction through the Tax Community Forum to ask and answer tax-related queries
10. A Tax Calendar integrated with Google App to keep track of deadlines and holidays
11. An ebook version of the Income Tax Act and Income Tax Rules for easy reference
12. A News for Tax Pros module providing segmented news on top Indian news stories, business updates, stock market news, corporate law updates, irsofficersonline news, and RBI news