FBR says no fresh changes made in income tax return form

The Federal Board of Revenue (FBR) has rejected the information being circulated on social media about fresh changes in the income tax return form for 2025 tax year, terming it misleading.

“No changes or amendments have recently been introduced in the return form through any Statutory Regulatory Order (SRO),” the FBR clarified.

The FBR said the Income Tax Return Form 2025 was issued on its website on July 7 this year. Page 66 of the form already requires taxpayers to declare the market value of their assets. “Many taxpayers had been entering zero in this column, which has been restricted. However, the FBR said that declaring the market value of property is entirely at the taxpayer’s discretion,” it maintained.

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The tax authority said that affluent individuals were already reporting their asset details under Section 7E. These disclosures are not related to tax calculation, nor will any notice be issued for errors in them. The FBR expressed hope that taxpayers would declare their assets’ value as close to the market value as possible.

Taxpayers who have already filed their returns will not be asked to amend or re-file them, the authority said. The FBR reiterated that the market value of assets will not be used for tax calculation purposes or for reconciliation of the wealth statement.

The FBR confirmed that the IRIS system is functioning smoothly, and urged taxpayers to file their returns at the earliest. The last date for filing income tax returns is September 30.