ICAI suggests single ITR form to replace all ITR forms
In Its pre-budget Memorandum 2014 on direct taxes ICAI has suggested that A single ITR form should be prepared. At present, we have different ITR forms for different assessees which make filing of ITR a cumbersome task.
There should be a single form for all the assessees so that filing of return will be done in a simplified & effective manner. A single ITR form instead of ITR 1,2,3,4,5,6,7 should be prepared. The common fields in all ITR can be clubbed and Income under the various heads of income is restricted in form of Annexures. The assessee should click and fill only the annexure which is relevant for him. This would amount to simplification in true sense.