Common ITR form for all proposed by govt, here's what you need to know

It is expected that the proposed ITR form will be applicable from FY 2022-23 onwards

The Central Board of Direct Taxes (CBDT) has proposed a standard income tax return form that aims to replace six of the seven existing ITR forms, ITR 1 to ITR 6, in an effort to simplify the process of submitting income tax return (ITR). It is expected that the proposed ITR form will be applicable from financial year (FY) 2022-23 onwards.he common ITR form will be an online questionnaire-based form.

The proposed common ITR form does not include ITR form 7, which is relevant to charitable organisations, business trusts, investment funds, among others. 

It is important to note that the