ISLAMABAD: The Federal Board of Revenue (FBR) has clarified that misleading information regarding the 2025 income tax return form is being spread on various social media platforms. In an official statement, the FBR confirmed that no new SRO has been issued to introduce any amendments to the return form.
Important Update: FBR Removes Estimated Market Value Column Amid Ongoing Confusion
According to the FBR, the income tax return form for Tax Year 2025 was uploaded on its website on July 7, 2025, which already included the requirement on page 66 to declare the market value of assets. However, during the review of submitted returns, it was observed that many taxpayers were entering “zero” in the asset valuation field. The system has now restricted this practice to ensure accurate disclosures.
Filing your salary tax return in Pakistan correctly ensures that your income tax for salaried person is recorded without error by the FBR.
FBR clarified that declaring the market value of assets is entirely at the taxpayer’s discretion, except for high-net-worth individuals who are already bound under Section 7E. For other taxpayers, these entries will neither affect tax calculations nor trigger notices in case of errors. Still, taxpayers are expected to declare values close to the actual market rates to the best of their knowledge.
Important Update: Wealth Statement Format Alteration: FTO Orders Probe
Furthermore, taxpayers who have already filed their returns will not be required to revise or re-file, as the asset valuation entries will not be considered for tax liability or wealth statement reconciliation.
The tax authority also emphasized that the IRIS system is fully functional and urged taxpayers to submit their income tax returns well before the due date of September 30, 2025.
