FBR denies changes in 'Income Tax Return' form

ISLAMABAD: The Federal Board of Revenue (FBR) has clarified that misleading information is being spread regarding the Income Tax Return 2025, ARY News reported.

An FBR spokesperson said no change or amendment had been introduced through any SRO in the Income Tax Return 2025 form, which was uploaded to the FBR website on July 7 this year.

He explained that taxpayers are required to declare the market value of assets on page 66 of the form. However, many taxpayers were incorrectly entering “zero” in the market value column, which caused them to face restrictions.

The spokesperson stressed that entering the market value of property is solely the taxpayer’s prerogative. He expressed hope that taxpayers would declare values close to the actual market worth of their assets. Importantly, he assured that taxpayers would not be asked to refile or amend their returns once submitted.

He further clarified that the declared market value of assets will not be used for tax calculation or reconciliation of wealth statements.

The spokesperson also confirmed that the FBR’s Integrated Revenue Information (IRI) system is fully operational and functioning smoothly for filing income tax returns.

The deadline for submission of Income Tax Returns 2025 remains September 30, he added.

Also Read: FBR launches income tax return form in Urdu

Earlier, the Federal Board of Revenue (FBR) had made the income tax return filing form available online in Urdu, aiming to facilitate nearly 84% of filers.

According to details, the initiative is intended to simplify the process of filing returns by providing a user-friendly version in the national language.

The move is expected to significantly benefit a large portion of taxpayers who are more comfortable with Urdu.

Income tax is a direct tax levied on the annual income of individuals, businesses, and other entities. In Pakistan, every citizen whose income exceeds the prescribed threshold is legally required to pay income tax.

This tax serves as a vital source of revenue for the national exchequer.