Businesses should be allowed to choose one of 31/3, 30/6, 30/9 and 31/12 as year ending date. This would allow choice between 4 options of financial year.
A majority of businesses will choose 31-Dec as financial year ending as that would coincide with calendar year and simplify things. Businesses that want to set their financial year according to the seasonality of their business also have flexibility to do so.
CA and accounting firms benefit as accounts closing work will spread out in yr.

I think that this will be a good change and would like to see this being incorporated.

To avoid lot of confusion it is better to change financial year and calendar year as same

Calendar Year seems completely logical considering, Share of Service and Manufacturing in GDP, Ever more Investments from foreign countries and companies, Managing single calendar for all reporting be it Tax, Industry level, World wide level data aggregation will improve analysis and productivity. Besides, will significantly save on costs for businesses for compliance as well as on professional fees and support ease of doing business. Hope is alive.

It makes immense sense to change the financial year to coincide with the Calender year, then it all becomes uniform.

It is a very good step appointing a committee to give suggestions on changing the finacial year to calender year. Rather it should be done. It will reduce confusion specially of new traders when govt is promoting make my india programme. In income tax we have to mention financial year and assessment year which creates great confusion. Go for simple calender year which every simple person can understand. Make it easy .

Change financial year to -1 Jan to 31 Dec. in the interest of uniformity and in keeping with international norms.

It hardly make any convenience by aligning with western countries. In fact, our new year starts around April in many of our states. Crop cutting is a matter of celebrations around this time. For we Indians, balancing i.e. normal season, dull season, festive season during 12 months period happens. Else, it will imbalance the accounting. We should stick to April-March.

Follow calendar year as fin year,or April to march is better as it resembles with hindu calendar

The Financial Year I.e. From January-1 to December-31 is good for everyone because there is confusion for determining the return.
Currently we file IT Returns write FY 2015-2016 & AY 2016-2017. As per new proposal we write on return FY-2015 & AY-2017.