In the context of Income Tax Return (ITR) filing, the term "filing type" generally refers to the nature of the return being filed. The common filing types include:
- Original Return: The initial or first-time filing of the ITR for a given financial year.
- Revised Return: A return filed to correct errors or omissions in the original return.
- Belated Return: Filed after the due date of filing the original return but before the end of the assessment year.
"Filing type" is selected during the ITR submission process to specify whether the return is original, revised, or belated. Additionally, the Income Tax Department prescribes different types of ITR forms (ITR-1 to ITR-7), each applicable based on the nature of income and the taxpayer's category. For example, ITR-1 is for salaried individuals with income up to ₹50 lakh, while ITR-3 is for individuals with income from business or profession. Thus, "filing type" mainly indicates the kind of return being filed in relation to the timeline or corrections regarding the income tax returns submitted.
