ISLAMABAD: The Federal Board of Revenue (FBR) has introduced a new electronic income tax return form for individuals. The form, ironically titled “Simplified Electronic Return for Individuals,” is anything but simplified, as the document spans a lengthy 25 pages.
In this regard, the FBR issued a notification on Tuesday to notify the draft of the return form. According to the notification, the new return form will be applicable for the tax year 2025.
Through SRO 1212(I)/2025, the FBR has also issued the draft income tax return form for companies.
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Each page of the new income tax return form for individuals carries separate headings, such as “Your Income,” “Your Pension,” “Your Rent from Property,” “Your Profit on Bank Accounts,” and “Your Dividends,” said a salaried taxpayer.
SRO 1213(I)/2025 revealed the draft of certain amendments to the Income Tax Rules, 2002, which the Federal Board of Revenue proposes to make in exercise of the powers conferred by sub-section (1) of Section 237 of the Income Tax Ordinance, 2001. This draft is hereby published for the information of all persons likely to be affected thereby.
As required by sub-section (3) of Section 237, notice is hereby given that objections or suggestions, if any, may be sent for the consideration of the Federal Board of Revenue within seven days of the publication of the draft in the official Gazette. Objections or suggestions received before the expiry of the aforementioned period shall be taken into consideration by the FBR, the notification added.
Copyright Business Recorder, 2025
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